Mosco International Commodities Private Limited, the operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against SBEC Sugar Limited, the corporate debtor, due to default in payment of an outstanding operational debt of Rs. 1,08,02,731. The operational creditor claimed to have made an advance payment for the supply of molasses, but the corporate debtor failed to supply the entire quantity due to the suspension of supply by the Molasses Controller and Excise Commissioner and a subsequent fire incident at the corporate debtor's plant. The corporate debtor disputed the claim, stating that there was no legal liability and the debt was below the threshold limit of

Mosco International Commodities Private Limited, the operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against SBEC Sugar Limited, the corporate debtor, due to default in payment of an outstanding operational debt of Rs. 1,08,02,731. The operational creditor claimed to have made an advance payment for the supply of molasses, but the corporate debtor failed to supply the entire quantity due to the suspension of supply by the Molasses Controller and Excise Commissioner and a subsequent fire incident at the corporate debtor's plant. The corporate debtor disputed the claim, stating that there was no legal liability and the debt was below the threshold limit of