Fox Mandal & Co., an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Blue Marlin Buildcon Limited, the corporate debtor, due to unpaid operational debt of Rs. 1,50,00,000/-. The operational debt arose from advisory services provided by Fox Mandal & Co. to Blue Marlin Buildcon Limited, including setting up Special Economic Zones, investment strategy, taxation advisory, and legal due diligence. Despite providing services and raising invoices, Blue Marlin Buildcon Limited failed to make the payments. The Adjudicating Authority considered the application, the reply filed by the corporate debtor, and the submissions made by both parties.

Fox Mandal & Co., an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Blue Marlin Buildcon Limited, the corporate debtor, due to unpaid operational debt of Rs. 1,50,00,000/-. The operational debt arose from advisory services provided by Fox Mandal & Co. to Blue Marlin Buildcon Limited, including setting up Special Economic Zones, investment strategy, taxation advisory, and legal due diligence. Despite providing services and raising invoices, Blue Marlin Buildcon Limited failed to make the payments. The Adjudicating Authority considered the application, the reply filed by the corporate debtor, and the submissions made by both parties.