CIRP against Sumarrow Impex LLP initiated as debt and default proved

Drip Capital Inc Vs Sumarrow Impex LLP (NCLT Ahmedabad) NCLT Ahmedabad held that application under section 7 of the Insolvency and Bankruptcy Code for initiation of Corporate Insolvency Resolution Process [CIRP] against Sumarrow Impex LLP (Corporate Debtor) admitted as financial debt and default stands proved. Facts- This Application has been filed under Section 7 of Insolvency and Bankruptcy Code, 2016 by Drip Capital Inc. (Financial Creditor) seeking initiation of Corporate Insolvency Resolution Process against Sumarrow Impex LLP (Corporate Debtor) for having committed a default of an amoun...