Mycozoom Biotech India Pvt. Ltd., the Corporate Applicant, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP) against itself. The Corporate Applicant admitted to defaulting on payments totaling Rs. 1,45,20,537/- to various operational creditors, employees, and for taxes and duties. This application was supported by a special resolution passed by its Board of Directors and in its Annual General Meeting, indicating a voluntary decision to undergo CIRP due to severe financial distress and liquidity crisis.

Mycozoom Biotech India Pvt. Ltd., the Corporate Applicant, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP) against itself. The Corporate Applicant admitted to defaulting on payments totaling Rs. 1,45,20,537/- to various operational creditors, employees, and for taxes and duties. This application was supported by a special resolution passed by its Board of Directors and in its Annual General Meeting, indicating a voluntary decision to undergo CIRP due to severe financial distress and liquidity crisis.