CIRP admitted since Financial Creditor proved existence of debt and default in payment

Bank of India Vs Devashray Papers (India) LLP (NCLT Ahmedabad) NCLT Ahmedabad held that application u/s. 7 of the Insolvency and Bankruptcy Code is admitted since Financial Creditor discharged its burden of proof by demonstrating the existence of a financial debt and default in payment of the financial debt by the Corporate Debtor [Devashray Papers (India) LLP]. Facts- This Petition is filed on 08.07.2025 by the Applicant- Bank of India (Financial Creditor) against the Respondent- Devashray Papers (India) LLP (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016 read ...