The case involves an application filed under Section 10 of the Insolvency and Bankruptcy Code, 2016, read with Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) for M/s. Well Pack Papers and Containers Limited. The application was filed by one of the directors of the company, authorized by the Board of Directors. The company had previously faced winding-up petitions, which were later withdrawn after dues were settled. The Corporate Applicant has shown K.Z. Leasing & Finance Ltd., Panel Décor Private Limited, and Tejal Paper Mills (P) Limited as 'Financial Creditors'.
M/s. Well Pack Papers and Containers Limited, through one of its directors, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP). The Board of Directors had passed a resolution on 2017-06-21 to file the application. The company had previously faced winding-up petitions, which were later withdrawn after dues were settled. The Corporate Applicant has shown K.Z. Leasing & Finance Ltd., Panel Décor Private Limited, and Tejal Paper Mills (P) Limited as 'Financial Creditors'. The amount in default is Rs. 58,00,000/-, Rs. 40,53,483/-, and Rs. 27,00,000/- respectively, totalling to Rs. 1,25,53,483/-. The company has 182 Operational Creditors and the amount due to them is Rs.
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Well Pack Papers and…
Corporate Applicant…
The case involves an application filed under Section 10 of the Insolvency and Bankruptcy Code, 2016, read with Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) for M/s. Well Pack Papers and Containers Limited. The application was filed by one of the directors of the company, authorized by the Board of Directors. The company had previously faced winding-up petitions, which were later withdrawn after dues were settled. The Corporate Applicant has shown K.Z. Leasing & Finance Ltd., Panel Décor Private Limited, and Tejal Paper Mills (P) Limited as 'Financial Creditors'.
M/s. Well Pack Papers and Containers Limited, through one of its directors, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP). The Board of Directors had passed a resolution on 2017-06-21 to file the application. The company had previously faced winding-up petitions, which were later withdrawn after dues were settled. The Corporate Applicant has shown K.Z. Leasing & Finance Ltd., Panel Décor Private Limited, and Tejal Paper Mills (P) Limited as 'Financial Creditors'. The amount in default is Rs. 58,00,000/-, Rs. 40,53,483/-, and Rs. 27,00,000/- respectively, totalling to Rs. 1,25,53,483/-. The company has 182 Operational Creditors and the amount due to them is Rs.
…Well Pack Papers and…
Corporate Applicant…