Flourish Capital and Management Consulting Private Limited, the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC), seeking initiation of Corporate Insolvency Resolution Process (CIRP) against National Commodities Management Services Limited, the Corporate Debtor. The petition claimed an amount of Rs. 10,57,80,000/-, including an advance of Rs. 6,15,00,000/- and interest at 18% per annum from 21.05.2018 to 21.05.2022. The Operational Creditor stated that NCML KB Limited, a subsidiary of the Corporate Debtor, approached them to acquire land, and the Operational Creditor purchased the land on behalf of NCML KB Limited. An indemnity agreement was executed between NCML KB Limited and the Operational Creditor

Flourish Capital and Management Consulting Private Limited, the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC), seeking initiation of Corporate Insolvency Resolution Process (CIRP) against National Commodities Management Services Limited, the Corporate Debtor. The petition claimed an amount of Rs. 10,57,80,000/-, including an advance of Rs. 6,15,00,000/- and interest at 18% per annum from 21.05.2018 to 21.05.2022. The Operational Creditor stated that NCML KB Limited, a subsidiary of the Corporate Debtor, approached them to acquire land, and the Operational Creditor purchased the land on behalf of NCML KB Limited. An indemnity agreement was executed between NCML KB Limited and the Operational Creditor