Brilliant Metals Pvt Ltd, the applicant and financial creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Avyukta Dairy Products Pvt. Ltd, the corporate debtor and guarantor. The application stems from a default on repayment obligations by Avdhesh Construction and Impex Ltd, the principal borrower, for whom Avyukta Dairy Products Pvt. Ltd. acted as a corporate guarantor. The applicant issued a demand notice on 15.09.2023, and a final demand notice on 10.10.2023, but the corporate debtor failed to honor its commitments. An arbitral tribunal awarded Rs. 2,46,48,957/- along with interest and costs to the applicant on 02.07.2024, but the corporate debtor did not satisfy

Brilliant Metals Pvt Ltd, the applicant and financial creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Avyukta Dairy Products Pvt. Ltd, the corporate debtor and guarantor. The application stems from a default on repayment obligations by Avdhesh Construction and Impex Ltd, the principal borrower, for whom Avyukta Dairy Products Pvt. Ltd. acted as a corporate guarantor. The applicant issued a demand notice on 15.09.2023, and a final demand notice on 10.10.2023, but the corporate debtor failed to honor its commitments. An arbitral tribunal awarded Rs. 2,46,48,957/- along with interest and costs to the applicant on 02.07.2024, but the corporate debtor did not satisfy