MUMBAI BENCH COURT VI Item No. P-1 IA (I.B.C) 683/MB/2026 in CP (IB) No. 1257/MB/2025 And CP (IB) No. 1257/MB/2025 CORAM:

SHRI SAMEER KAKAR SHRI NILESH SHARMA HON’BLE MEMBER (TECHNICAL) HON’BLE MEMBER (JUDICIAL)

ORDER SHEET OF HEARING (HYBRID) DATED 13.05.2026 NAME OF THE PARTIES: Canara Bank Vs.

M/s. Supreme Housing And Hospitality Private Limited Under Section 7 of the IBC, 2016.

ORDER

The case is fixed for the pronouncement of the order. The order is pronounced in the open court, vide separate order. A detailed order is being uploaded on the NCLT portal today.

Sd/- Sd/-

NILESH SHARMA SAMEER KAKAR MEMBER (JUDICIAL) MEMBER (TECHNICAL)

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C.P. (IB)/1257/MB/2025 [Under Section 7 of the Insolvency and Bankruptcy Code, 2016 r/w Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016]

CANARA BANK [PAN No.: AAACC6106G]

Head Office: 112, J. C. Road, Bangalore Stressed Asset Management Branch:

Circle Office Building

8^th Floor, 'B' Wing, C-14, G-Block Bandra-Kurla Complex, Bandra East, Mumbai – 400051.

…Financial Creditor V/s M/S. SUPREME HOUSING AND HOSPITALITY PRIVATE LIMITED [CIN No.: U45201MH2006PTC165665]

Sharma Bungalow, Behind Lake Castle Building Hiranandani Garden, Powai, Mumbai – 400076.

...Corporate Debtor IA (I.B.C) 683/MB/2026 in CP (IB) No. 1257/MB/2025 [Under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 r/w Rule 11 of the National Company Law Tribunal Rules, 2016]

M/S. SUPREME HOUSING AND HOSPITALITY PRIVATE LIMITED …Applicant/CD V/s CANARA BANK … Respondent/FC Pronounced: 13.05.2026 CORAM:

HON’BLE SHRI NILESH SHARMA, MEMBER (JUDICIAL)

HON’BLE SHRI SAMEER KAKAR, MEMBER (TECHNICAL)

Appearances: Hybrid For FC: Adv. Nitish Dhruva, Adv. Yash Dhruva, Adv. Niyati Merchant i/b MDP Legal For CD: Adv. Rohan Agrawal a/w Adv. Haaris Koradia i/b Adv. Sujit Lahoti &

Associates.

ORDER

[PER: CORAM]

1. BACKGROUND

1.1 This C.P. (IB) No. 1257 of 2025 (Application) was filed on 13.11.2025 by Canara Bank, the Financial Creditor (FC) having PAN No.: AAACC6106G, under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Supreme Housing and Hospitality Private Limited, the Corporate Debtor (CD), having CIN No.:

U45201MH2006PTC165665.

1.2 This Application has been affirmed by one Mr. Gaurav Pareek, Senior Manager, Canara Bank. As per Part IV of the Application, the amount claimed to be in default is Rs. 5,67,43,40,067.80/- (Rupees Five Hundred Sixty-Seven Crore Forty-Three Lakhs Forty Thousand Sixty-Seven and Eighty Paise only) as on 31.10.2025, out of which principal amount is

2 | P age Rs.175,83,35,822.71/- and interest amounts to Rs.391,60,04,245.09/-. The date of default is stated as 01.07.2017.

1.3 The Applicant has proposed M/s. KDRA Insolvency Professionals Private Limited, having Registration No. IBBI/IPE-0059/IPA-1/2022-23/50037, to act as the Interim Resolution Professional (IRP) in case the Application is admitted.

2. CONTENTIONS OF APPLICANT (FC)

2.1 The Corporate Debtor had approached the Financial Creditor for grant/sanction of Term Loan on 12.01.2014. The Financial Creditor considered the request of the Corporate Debtor and grant/sanction of Term Loan (LRD) of Rs. 390.00 Crores vide sanction letter dated 29.03.2014 and the said amount was disbursed to the CD on 16.05.2014. Details of Credit facilities granted in the name of M/s. Supreme Housing and Hospitality Private Limited (“Corporate Debtor”).

3 | P age

2.2 As per the terms of the Sanction Letter, the Term Loan was repayable in

108 monthly structured instalments as per receipt of lease rentals commencing from March, 2014 for an amount of Rs. 5 Crores, and the last instalment of Rs. 7.86 Crores. To secure the aforesaid credit facilities, the CD executed various loan and security documents in favour of the FC. However, the CD availed and enjoyed the aforesaid Credit facilit