IFCI Venture Capital Funds Ltd, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Green Belt Industry Private Limited, the Corporate Debtor. The application, filed on March 8, 2025, was based on an unresolved financial debt amounting to Rs. 7,03,39,308/-.

The Corporate Debtor, incorporated on December 20, 2012, requested financial assistance from the Financial Creditor. An Investment Agreement was executed on January 4, 2017, for a part finance of Rs. 5,00,00,000/-, which included Rs. 4,99,00,000/- in the form of 4,99,000 Optionally Convertible Debentures (OCDs) and Rs. 1,00,000/- in the form of 10,000 equity shares.

IFCI Venture Capital Funds Ltd, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Green Belt Industry Private Limited, the Corporate Debtor. The application, filed on March 8, 2025, was based on an unresolved financial debt amounting to Rs. 7,03,39,308/-.

The Corporate Debtor, incorporated on December 20, 2012, requested financial assistance from the Financial Creditor. An Investment Agreement was executed on January 4, 2017, for a part finance of Rs. 5,00,00,000/-, which included Rs. 4,99,00,000/- in the form of 4,99,000 Optionally Convertible Debentures (OCDs) and Rs. 1,00,000/- in the form of 10,000 equity shares.