CIRP application against Corporate Debtor admitted as operational debt and default proved

Sree Ugcl Projects Ltd Vs Geosphere Industries Pvt. Ltd (NCLT Cuttack)

NCLT Cuttack held that application under section 9 of the Insolvency and Bankruptcy Code is admitted for initiation of Corporate Insolvency and Resolution Process against Corporate Debtor [Geosphere Industries Pvt. Ltd.] as operational debt of more than Rs. 1 crore stands established and default thereon is proved.

Facts- This present Application has been filed by M/S Sree UGCL Projects Ltd. (Operational Creditor/Applicant”) under Section 9 of the Insolvency and Bankruptcy Code, 201

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