Sritex Declared Bankrupt By The Semarang Commercial Court

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By:

Team of Hukumindo

Previously, the www.hukumindo.com platform has talk about "An Indonesian Citizen was Arrested by United States Customs Officers on Suspicion of Counterfeit Money", "Amazing, Public Road Transformed Into Garage", you may read also "A Wife in India Asked For a Divorce Because Her Husband Rarely Bathed" and on this occasion we will discuss about 'Sritex Declared Bankrupt by the Semarang Commercial Court'.

The Semarang Commercial District Court (PN) officially declared Sritex and its 3 subsidiaries, namely PT. Sinar Pantja Djaja, PT. Bitratex Industries, and PT. Primayudha Mandirijaya declared bankrupt through a decision with case number 2/Pdt.Sus-Homologasi/2024/PN Niaga Smg. In this decision, Sritex has failed to fulfill its payment obligations to PT. Indo Bharat Rayon, as the applicant, based on the Homologation Decision dated January 25 2022. Now, the management of assets along with the management and/or settlement of bankruptcy assets since the date of the bankruptcy decision has been handed over to the curator. The 4 curators who have been appointed are Denny Ardiansyah, Nur Hidayat, Fajar Romy Gumilar, and Nurma Candra Yani Sadikin. Meanwhile Haruno Patriadi was appointed as Supervisory Judge in this bankruptcy process.[1]

Quoting the website www.timkuratorsritex.com, the first creditor meeting as a follow-up to the bankruptcy decision for Sritex and a number of its subsidiaries will be held on November 13 2024. Sritex's creditors are asked to submit a letter of claim to the curator team. Meanwhile, the deadline for submitting creditor and tax office bills is Monday, November 25 2024 at 17.00 WIB at the Curator Team Secretariat Office located in South Jakarta City. Creditors who submit bills or other written evidence showing the nature and amount of receivables to the Curator Team via the website www.timkuratorsritex.com before the deadline for submitting bills. Apart from the website, creditors of Sritex and its subsidiaries can also submit bills and physical documents to the Curatorial Team Secretariat office. Then, a meeting to match creditor receivables and the tax office (verification of receivables) will be held on Monday, December 2024 at 10.00 WIB in the creditor meeting room of the Semarang Commercial Court.[2]

According to the Semarang District Court's Case Tracking Information System (SIPP) website, the plaintiff who went to court until Sritex went bankrupt was a company called PT. Indo Bharat Rayon. According to its official website, PT. Indo Bharat Rayon is a company that was founded in 1980 and has a large factory in Purwakarta, West Java, with a production capacity of 200,000 tpa. PT. Indo Bharat Rayon is a foreign investment company (PMA) under the Aditya Birla Group. This company was founded by Indian conglomerate Seth Shiv Narayan Birla and is now continued by his son, Kumar Mangalam Birla. Kumar Birla is currently ranked as the eighth richest person in India with wealth of 24.8 billion US dollars.[3] And if you have any legal issue in Indonesia territory, contact us for business inquiry, feel free in 24 hour, we will be glad to assist you. 

*) For further information please contact:

Mahmud Kusuma Advocate

Law Office

Jakarta - Indonesia.

E-mail: mahmudkusuma22@gmail.com

________________

References:

1. "Sritex Pailit, Nasibnya Dipegang 4 Orang Ini", www.cnbcindonesia.com., Wiji Nur Hayat, 03 November 2024, Diakses pada tanggal 8 November 2024, Link: https://www.cnbcindonesia.com/news/20241102212635-4-585150/sritex-pailit-nasibnya-dipegang-4-orang-ini

2. Ibid.

3. "Ini Perusahaan yang Bikin Sritex Pailit, Pemiliknya Bukan Orang Sembarangan", money.kompas.com., Muhammad Idris, 02/11/2024, Diakses pada tanggal 8 November 2024, Link: https://money.kompas.com/read/2024/11/02/151017226/ini-perusahaan-yang-bikin-sritex-pailit-pemiliknya-bukan-orang-sembarangan?page=all