Application u/s. 7 for CIRP against Inditrade Business Consultants Limited admitted

Kotak Mahindra Bank Limited Vs Inditrade Business Consultants Limited (NCLT Kochi) NCLT Kochi held that application under section 7 for initiation of Corporate Insolvency Resolution Process [CIRP] against M/s. Inditrade Business Consultants Limited is admitted since financial debt and occurrence of default established. Facts- The present petition has been filed by the Kotak Mahindra Bank Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred as ‘the Code’), read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, ...