J. J. Plastalloy Private Limited (Operational Creditor) initiated CIRP against Pasupati Flexipack Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016, for a default of Rs. 2,82,244/-. The Corporate Debtor initially did not participate in the proceedings. The NCLT admitted the petition on April 28, 2020, and appointed an IRP. The Corporate Debtor claimed lack of awareness of the petition until receiving the CIRP order. Subsequently, the Corporate Debtor expressed willingness to settle and filed an application to that effect. The IRP submitted a cost abstract, including professional fees, advertisement costs, legal fees, and expenses for factory possession. The court disallowed certain expenses related to a recovery agency and stipulated the IRP's

J. J. Plastalloy Private Limited (Operational Creditor) initiated CIRP against Pasupati Flexipack Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016, for a default of Rs. 2,82,244/-. The Corporate Debtor initially did not participate in the proceedings. The NCLT admitted the petition on April 28, 2020, and appointed an IRP. The Corporate Debtor claimed lack of awareness of the petition until receiving the CIRP order. Subsequently, the Corporate Debtor expressed willingness to settle and filed an application to that effect. The IRP submitted a cost abstract, including professional fees, advertisement costs, legal fees, and expenses for factory possession. The court disallowed certain expenses related to a recovery agency and stipulated the IRP's