The case pertains to an application filed by Avestra Chemical India Pvt. Ltd. under Section 10 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP). The Corporate Applicant claimed that it was unable to repay its outstanding dues to its creditors. The application was filed before the National Company Law Tribunal (NCLT), Mumbai Bench.
Avestra Chemical India Pvt. Ltd. filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP). The company's registered office is located in Mumbai. The company was incorporated on November 17, 2009, with a paid-up share capital of Rs. 2,14,97,160/-. The company submitted a copy of a special resolution passed by the shareholders in their meeting held on August 16, 2019, for initiating CIRP. The Board of Directors authorized Mr. Satish Kumar to file the necessary application. The company disclosed that a sum of Rs. 28,00,36,513.69/- is due to Operational Creditors, including Indian Potash Ltd., Lux Commodities Inc, and Rumeco Ltd. The company's financial position has been underprivileged
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Avestra Chemic…
Shareholders passed a special resolution for…
The case pertains to an application filed by Avestra Chemical India Pvt. Ltd. under Section 10 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP). The Corporate Applicant claimed that it was unable to repay its outstanding dues to its creditors. The application was filed before the National Company Law Tribunal (NCLT), Mumbai Bench.
Avestra Chemical India Pvt. Ltd. filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP). The company's registered office is located in Mumbai. The company was incorporated on November 17, 2009, with a paid-up share capital of Rs. 2,14,97,160/-. The company submitted a copy of a special resolution passed by the shareholders in their meeting held on August 16, 2019, for initiating CIRP. The Board of Directors authorized Mr. Satish Kumar to file the necessary application. The company disclosed that a sum of Rs. 28,00,36,513.69/- is due to Operational Creditors, including Indian Potash Ltd., Lux Commodities Inc, and Rumeco Ltd. The company's financial position has been underprivileged
…Avestra Chemic…
Shareholders passed a special resolution for…