The petitioners, Jagdishchandra Mansukhani & Ors., filed an application under Sections 8 and 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate a Corporate Insolvency Resolution Process (CIRP) against Man Industries Limited (the corporate debtor) for an alleged operational debt. The debt pertained to unpaid dividends declared by the corporate debtor on December 28, 2015, along with interest. The petitioners initially submitted a form on March 7, 2017, stating an outstanding operational debt of ₹1,64,23,918/-, but it lacked the corporate debtor's name. A revised form was submitted on August 7, 2017, clarifying the corporate debtor as Man Industries (India) Limited and the operational debt as a total dividend amount of ₹1,58,27,061/-.
…A requisite Form was initially submitted on March 7, 2017, by the petitioners, Jagdishchandra Mansukhani & Ors., claiming an outstanding 'Operational Debt' of ₹1,64,23,918/-. However, the name of the Corporate Debtor was inadvertently omitted from the form. The petitioners subsequently corrected this error and submitted a revised form on August 7, 2017, which clearly identified Man Industries (India) Limited as the Corporate Debtor.
…Petitioners submitted a form claiming an…
Petitioners submitted a revised form,…
The petitioners, Jagdishchandra Mansukhani & Ors., filed an application under Sections 8 and 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate a Corporate Insolvency Resolution Process (CIRP) against Man Industries Limited (the corporate debtor) for an alleged operational debt. The debt pertained to unpaid dividends declared by the corporate debtor on December 28, 2015, along with interest. The petitioners initially submitted a form on March 7, 2017, stating an outstanding operational debt of ₹1,64,23,918/-, but it lacked the corporate debtor's name. A revised form was submitted on August 7, 2017, clarifying the corporate debtor as Man Industries (India) Limited and the operational debt as a total dividend amount of ₹1,58,27,061/-.
…A requisite Form was initially submitted on March 7, 2017, by the petitioners, Jagdishchandra Mansukhani & Ors., claiming an outstanding 'Operational Debt' of ₹1,64,23,918/-. However, the name of the Corporate Debtor was inadvertently omitted from the form. The petitioners subsequently corrected this error and submitted a revised form on August 7, 2017, which clearly identified Man Industries (India) Limited as the Corporate Debtor.
…Petitioners submitted a form claiming an…
Petitioners submitted a revised form,…