NCLT Kolkata Admits CIRP for Non-Payment of Operational Debt

Burdwan Kraft Board LLP Vs Narayani Packaging Private Limited (NCLT Kolkata) Burdwan Kraft Board LLP (“Operational Creditor”) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, before the NCLT Kolkata against Narayani Packaging Private Limited (“Corporate Debtor”) seeking initiation of the Corporate Insolvency Resolution Process (CIRP) for non-payment of operational debt of Rs. 1,61,71,301/-. The dispute arose from supplies of kraft papers provided by the Operational Creditor between 22nd July 2023 and 3rd November 2023 pursuant to purchase orders p...