The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) for the initiation of the Corporate Insolvency Resolution Process (CIRP). A Section 8(1) notice was issued on February 3, 2021, and the Section 9 application was filed on February 24, 2021, for a default amount of Rs. 30,09,215/-. The Central Government, exercising its powers under Section 4 of the IBC, had specified one crore rupees as the minimum default amount.
Mr. Nilesh Kumar, the petitioner, filed an application under Section 9 of the IBC against M/s. Fiitjee Ltd., the corporate debtor, seeking initiation of CIRP for a default amount of Rs. 30,09,215/-. A Section 8(1) notice was issued on February 3, 2021, and the Section 9 application was moved on February 24, 2021. The Central Government had specified one crore rupees as the minimum default amount under Section 4 of the IBC. The application was filed after March 24, 2020.
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A Section 8(1) demand…
The Section 9…
The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) for the initiation of the Corporate Insolvency Resolution Process (CIRP). A Section 8(1) notice was issued on February 3, 2021, and the Section 9 application was filed on February 24, 2021, for a default amount of Rs. 30,09,215/-. The Central Government, exercising its powers under Section 4 of the IBC, had specified one crore rupees as the minimum default amount.
Mr. Nilesh Kumar, the petitioner, filed an application under Section 9 of the IBC against M/s. Fiitjee Ltd., the corporate debtor, seeking initiation of CIRP for a default amount of Rs. 30,09,215/-. A Section 8(1) notice was issued on February 3, 2021, and the Section 9 application was moved on February 24, 2021. The Central Government had specified one crore rupees as the minimum default amount under Section 4 of the IBC. The application was filed after March 24, 2020.
A Section 8(1) demand…
The Section 9…