NCLT Admits CIRP Against Corporate Debtor Over ₹10.44 Cr Default

HDFC Bank Ltd Vs Bhagwati Agro Industries Pvt. Ltd. (NCLT Indore) Summary: HDFC Bank Limited (“Financial Creditor”) filed a petition before the National Company Law Tribunal (NCLT), Indore, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Bhagwati Agro Industries Pvt. Ltd. (“Corporate Debtor”) under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The petition alleges default in repayment of financial debts totaling ₹10,44,03,044.07 as on...