M/s PAN Chemicals Inc., through its proprietor Ramji Lal, filed an application against M/s Sainath Texport Ltd., the corporate debtor. The application was filed under Section 66 & 67 of the Insolvency and Bankruptcy Code, 2016. The Liquidator, Vikas Garg, is the applicant. The court noted that the application had been served to the alleged defaulters, but no reply was filed, and no one was present for the respondents. The court directed the issuance of notice to the respondents to show cause why they should not be held liable under Section 66 and 67 of the IBC for committing default as communicated after forensic audit. The applicant is directed to serve the notice and file an affidavit of service.

M/s PAN Chemicals Inc., through its proprietor Ramji Lal, filed an application against M/s Sainath Texport Ltd., the corporate debtor. The application was filed under Section 66 & 67 of the Insolvency and Bankruptcy Code, 2016. The Liquidator, Vikas Garg, is the applicant. The court noted that the application had been served to the alleged defaulters, but no reply was filed, and no one was present for the respondents. The court directed the issuance of notice to the respondents to show cause why they should not be held liable under Section 66 and 67 of the IBC for committing default as communicated after forensic audit. The applicant is directed to serve the notice and file an affidavit of service.