Corporate Insolvency Process initiated against Trident Sugars LTD

NSL Krishnaveni Sugars Ltd Vs Trident Sugars Limited  (NCLT Hyderabad) Conclusion: Corporate Insolvency Resolution Process (“CIRP”) was initiated against Trident Sugars Ltd. and had appointed Mr. Medi Yadaiah as the Interim Resolution Professional (IRP) as the Corporate Debtor had neither paid the balance amount nor raised any dispute in respect of the quantity or the amount at any point of time. Held: In the instant case, the Operational Creditor had entered into an agreement dated 14.11.2019 with Trident Sugars Ltd. (“Corporate Debtor”) for Molasses Purchase, whereby...