Avanti Finance Private Limited (Financial Creditor) filed a petition under Section 7 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Our Food Private Limited (Corporate Debtor) for a default amount of Rs. 8,42,87,387/-. The petition was initially filed on 19.06.2025 but was returned due to defects, including being time-barred. After an interim application for condonation of delay was not approved, the Financial Creditor withdrew and re-filed the petition on 13.08.2025. A subsequent Rule 63 Appeal was allowed on 19.12.2025, permitting the Financial Creditor to refile the petition with an explanation for the delay. The Corporate Debtor contested the petition, arguing that there was no creditor-debtor relationship, the claim
…Avanti Finance Private Limited (Financial Creditor) filed a petition under Section 7 of the IBC, 2016, against Our Food Private Limited (Corporate Debtor).
The petition sought initiation of Corporate Insolvency Resolution Process (CIRP) for a default amount of Rs. 8,42,87,387/-.
Our Food Private Limited was incorporated on 09.06.2014, with its registered office in Visakhapatnam, Andhra Pradesh.
Avanti Finance Private Limited is a non-banking financial company (NBFC) incorporated under the Companies Act, 2013.
Our Food Private Limited is a private limited company engaged in setting up micro processing units.
The Financial Creditor advanced a loan facility of Rs.7,00,00,000/- to the Corporate Debtor via a Loan Agreement dated 31.05.2021, at 15% APR.
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Financial Creditor advanced a loan facility to…
Date of default as…
Avanti Finance Private Limited (Financial Creditor) filed a petition under Section 7 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Our Food Private Limited (Corporate Debtor) for a default amount of Rs. 8,42,87,387/-. The petition was initially filed on 19.06.2025 but was returned due to defects, including being time-barred. After an interim application for condonation of delay was not approved, the Financial Creditor withdrew and re-filed the petition on 13.08.2025. A subsequent Rule 63 Appeal was allowed on 19.12.2025, permitting the Financial Creditor to refile the petition with an explanation for the delay. The Corporate Debtor contested the petition, arguing that there was no creditor-debtor relationship, the claim
…Avanti Finance Private Limited (Financial Creditor) filed a petition under Section 7 of the IBC, 2016, against Our Food Private Limited (Corporate Debtor).
The petition sought initiation of Corporate Insolvency Resolution Process (CIRP) for a default amount of Rs. 8,42,87,387/-.
Our Food Private Limited was incorporated on 09.06.2014, with its registered office in Visakhapatnam, Andhra Pradesh.
Avanti Finance Private Limited is a non-banking financial company (NBFC) incorporated under the Companies Act, 2013.
Our Food Private Limited is a private limited company engaged in setting up micro processing units.
The Financial Creditor advanced a loan facility of Rs.7,00,00,000/- to the Corporate Debtor via a Loan Agreement dated 31.05.2021, at 15% APR.
…Financial Creditor advanced a loan facility to…
Date of default as…