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NCLT Admits CIRP as Operational Debt, Default & Acknowledgment of Liability Established
Case Law Details
- Case Name
- Valufocus Eco- Revive Packaging Vs Devkiran Paper Mills Private Limited (NCLT Bengaluru)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLT
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Valufocus Eco- Revive Packaging Vs Devkiran Paper Mills Private Limited (NCLT Bengaluru)
The National Company Law Tribunal (NCLT), Bengaluru Bench, admitted a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor for default in payment of operational debt amounting to ₹1,96,42,797.44. The Operational Creditor, a partnership firm engaged in the business of trading wastepaper, supplied wastepaper to the Corporate Debtor, a manufacturer of finished kraft paper, between 05.1...
