M/s. Loon Land Development Limited, the corporate debtor, filed an application under Chapter III A of the Insolvency and Bankruptcy Code, 2016, seeking to initiate a Pre-Packaged Insolvency Resolution Process (PPIRP). The application was filed under Section 54C read with Rule 4 of the IBBI (PPIRP) Regulations, 2021. The corporate debtor is a registered MSME with the Ministry of Micro, Small and Medium Enterprises, registered on September 7, 2021, and as a corporate entity on April 2, 2014. The corporate debtor defaulted on payments to operational creditors, with the default exceeding Rs. 10 lakhs, as evidenced by an invoice dated July 16, 2021, and subsequent reminders. The application included an affidavit confirming the corporate debtor's eligibility to submit a

M/s. Loon Land Development Limited, the corporate debtor, filed an application under Chapter III A of the Insolvency and Bankruptcy Code, 2016, seeking to initiate a Pre-Packaged Insolvency Resolution Process (PPIRP). The application was filed under Section 54C read with Rule 4 of the IBBI (PPIRP) Regulations, 2021. The corporate debtor is a registered MSME with the Ministry of Micro, Small and Medium Enterprises, registered on September 7, 2021, and as a corporate entity on April 2, 2014. The corporate debtor defaulted on payments to operational creditors, with the default exceeding Rs. 10 lakhs, as evidenced by an invoice dated July 16, 2021, and subsequent reminders. The application included an affidavit confirming the corporate debtor's eligibility to submit a