The Karad Janata Sahakari Bank Limited filed CP 400/2019 against Agricare Foods Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petitioner, The Karad Janata Sahakari Bank Limited, was absent from the hearing and had also been absent on a previous occasion on 2021-03-08. The counsel for the corporate debtor, Agricare Foods Private Limited, informed the court that an administrator had been appointed for the petitioner bank by the RBI. The court had ordered a notice to be sent to the administrator, but this order was not complied with. The court inferred that the petitioner was not interested in prosecuting the matter.

The Karad Janata Sahakari Bank Limited filed CP 400/2019 against Agricare Foods Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petitioner, The Karad Janata Sahakari Bank Limited, was absent from the hearing and had also been absent on a previous occasion on 2021-03-08. The counsel for the corporate debtor, Agricare Foods Private Limited, informed the court that an administrator had been appointed for the petitioner bank by the RBI. The court had ordered a notice to be sent to the administrator, but this order was not complied with. The court inferred that the petitioner was not interested in prosecuting the matter.