M/s. Sycamore Foods and Technologies Private Limited filed C.P.(IB)No. 90/BB/2019 under Section 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Breadworks Gourmet Foods Private Limited, alleging a default of Rs. 23,00,000/-. The Adjudicating Authority admitted the case on 23.10.2019, initiating CIRP and appointing an Interim Resolution Professional (IRP). The IRP issued a public announcement, but no claims were received from creditors, preventing the constitution of a Committee of Creditors. The Promoter of the Corporate Debtor approached the Operational Creditor and proposed repayment in installments, leading to negotiations and a settlement. Consequently, the Operational Creditor sought to withdraw the Company
…M/s. Sycamore Foods and Technologies Private Limited, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Breadworks Gourmet Foods Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The claim was based on a default amount of Rs. 23,00,000/- along with interest at 18% per annum. The NCLT admitted the case on 23.10.2019, initiating CIRP and appointing an Interim Resolution Professional (IRP). The IRP issued a public announcement, but no claims were received from any creditors. The Promoter of the Corporate Debtor approached the Operational Creditor and proposed repayment of the due amount in installments. The Operational Creditor and Corporate Debtor negotiated and arrived
…Sign in to view the parties.
The Adjudicating Authority admitted the case…
The IRP issued a public…
M/s. Sycamore Foods and Technologies Private Limited filed C.P.(IB)No. 90/BB/2019 under Section 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Breadworks Gourmet Foods Private Limited, alleging a default of Rs. 23,00,000/-. The Adjudicating Authority admitted the case on 23.10.2019, initiating CIRP and appointing an Interim Resolution Professional (IRP). The IRP issued a public announcement, but no claims were received from creditors, preventing the constitution of a Committee of Creditors. The Promoter of the Corporate Debtor approached the Operational Creditor and proposed repayment in installments, leading to negotiations and a settlement. Consequently, the Operational Creditor sought to withdraw the Company
…M/s. Sycamore Foods and Technologies Private Limited, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Breadworks Gourmet Foods Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The claim was based on a default amount of Rs. 23,00,000/- along with interest at 18% per annum. The NCLT admitted the case on 23.10.2019, initiating CIRP and appointing an Interim Resolution Professional (IRP). The IRP issued a public announcement, but no claims were received from any creditors. The Promoter of the Corporate Debtor approached the Operational Creditor and proposed repayment of the due amount in installments. The Operational Creditor and Corporate Debtor negotiated and arrived
…The Adjudicating Authority admitted the case…
The IRP issued a public…