CIRP application u/s. 9 of IBC against Proto D Industries admitted as debt and default established

Rexel India Private Limited Vs Proto D Industries Private Limited (NCLT Mumbai) NCLT Mumbai held that since existence of financial debt and default thereon is established, application filed under section 9 of the Insolvency and Bankruptcy Code for initiation of Corporate Insolvency and Resolution Process [CIRP] against Proto D Industries Pvt. Ltd. [Corporate Debtor] is admitted. Facts- This is an Application filed on 10.07.2024 by Rexel India Private Limited, the Applicant (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016 read with Rule 6 of the Insolvency and...