The case involves an application for initiating Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Sky Blue Papers Pvt. Ltd., the Corporate Debtor itself. The application was filed before the National Company Law Tribunal (NCLT), Chandigarh Bench. The company was incorporated on 06.03.2014. The application seeks a moratorium under Sections 13 and 14 of the IBC. The Corporate Debtor has defaulted on payments to financial and operational creditors.
Sky Blue Papers Pvt. Ltd., the Corporate Debtor, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP). The company was incorporated on 06.03.2014. The authorized share capital of the company is ₹2,50,00,000, and the subscribed and paid-up share capital is ₹2,35,00,000. The company has two directors, Ashwani Soni and Sahil Arora. The company defaulted on payments to financial creditors, including Punjab National Bank (₹16.71 crores), Kotak Mahindra Prime Ltd. (₹0.14 crores), and Tata Capital Financial Services Ltd. (₹0.06 crores), and operational creditors, including government departments (₹1.58 crores) and raw material suppliers (₹0.18 crores). Punjab National Bank had issued
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Sky Blue Pape…
Punjab National Bank…
The case involves an application for initiating Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Sky Blue Papers Pvt. Ltd., the Corporate Debtor itself. The application was filed before the National Company Law Tribunal (NCLT), Chandigarh Bench. The company was incorporated on 06.03.2014. The application seeks a moratorium under Sections 13 and 14 of the IBC. The Corporate Debtor has defaulted on payments to financial and operational creditors.
Sky Blue Papers Pvt. Ltd., the Corporate Debtor, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP). The company was incorporated on 06.03.2014. The authorized share capital of the company is ₹2,50,00,000, and the subscribed and paid-up share capital is ₹2,35,00,000. The company has two directors, Ashwani Soni and Sahil Arora. The company defaulted on payments to financial creditors, including Punjab National Bank (₹16.71 crores), Kotak Mahindra Prime Ltd. (₹0.14 crores), and Tata Capital Financial Services Ltd. (₹0.06 crores), and operational creditors, including government departments (₹1.58 crores) and raw material suppliers (₹0.18 crores). Punjab National Bank had issued
…Sky Blue Pape…
Punjab National Bank…