The case involves a petition filed by mCarbon Tech Innovation Private Limited (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Pointific Digital Private Limited (Corporate Debtor). The claim is based on a default of INR 4,87,88,499/- as of November 30, 2022, under Inter-Corporate Loan Agreements. The Corporate Debtor argues that the resignation of its director, Mukesh Bajpai, does not constitute a 'Material Adverse Effect' as defined in the loan agreements and that the demand notice was issued without basis. The Financial Creditor contends that the resignation of the director does constitute a 'Material Adverse Effect' and that the Corporate Debtor has admitted

The case involves a petition filed by mCarbon Tech Innovation Private Limited (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Pointific Digital Private Limited (Corporate Debtor). The claim is based on a default of INR 4,87,88,499/- as of November 30, 2022, under Inter-Corporate Loan Agreements. The Corporate Debtor argues that the resignation of its director, Mukesh Bajpai, does not constitute a 'Material Adverse Effect' as defined in the loan agreements and that the demand notice was issued without basis. The Financial Creditor contends that the resignation of the director does constitute a 'Material Adverse Effect' and that the Corporate Debtor has admitted