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/- along with 18% interest per annum. 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 calling for creditors to submit claims by 17.12.2019, but no claims were received, preventing the constitution of a Committee of Creditors. The Promoter of the Corporate Debtor approached the Operational Creditor, proposing repayment in installments. The Operational Creditor and Corporate Debtor
…M/s. Sycamore Foods and Technologies Private Limited, the Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Breadworks Gourmet Foods Private Limited, the Corporate Debtor, under Section 9 of the IBC, 2016. The basis for the CIRP was a default amount of Rs. 23,00,000/- along with 18% interest per annum. The NCLT admitted the case on 23.10.2019, appointed an Interim Resolution Professional (IRP), and imposed a moratorium. The IRP issued a public announcement on 02.12.2019, calling for creditors to submit their claims by 17.12.2019. However, no claims were received. The Promoter of the Corporate Debtor approached the Operational Creditor and proposed repayment in installments, leading to a settlement between the parties. The
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The Adjudicating Authority admitted the case,…
The IRP issued a Public Announcement (Form-A)…
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/- along with 18% interest per annum. 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 calling for creditors to submit claims by 17.12.2019, but no claims were received, preventing the constitution of a Committee of Creditors. The Promoter of the Corporate Debtor approached the Operational Creditor, proposing repayment in installments. The Operational Creditor and Corporate Debtor
…M/s. Sycamore Foods and Technologies Private Limited, the Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Breadworks Gourmet Foods Private Limited, the Corporate Debtor, under Section 9 of the IBC, 2016. The basis for the CIRP was a default amount of Rs. 23,00,000/- along with 18% interest per annum. The NCLT admitted the case on 23.10.2019, appointed an Interim Resolution Professional (IRP), and imposed a moratorium. The IRP issued a public announcement on 02.12.2019, calling for creditors to submit their claims by 17.12.2019. However, no claims were received. The Promoter of the Corporate Debtor approached the Operational Creditor and proposed repayment in installments, leading to a settlement between the parties. The
…The Adjudicating Authority admitted the case,…
The IRP issued a Public Announcement (Form-A)…