The case pertains to an application filed under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016 by M/s. Sundaram Mahadeo Autoworld Private Limited, the Corporate Debtor/Petitioner, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against itself. The company, incorporated on May 29, 2015, is engaged in the business of buying, selling, importing, exporting, hiring, assembling, altering, improving, servicing, repairing, and dealing in all kinds of commercial vehicles manufactured by TATA Motors, primarily servicing the North Eastern states of India. The petitioner faced substantial diminishing profits and visible losses during the FYs 2019-20, 2020-21, and 2021-22, leading to the erosion of its entire paid-up share capital and reserves.

The case pertains to an application filed under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016 by M/s. Sundaram Mahadeo Autoworld Private Limited, the Corporate Debtor/Petitioner, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against itself. The company, incorporated on May 29, 2015, is engaged in the business of buying, selling, importing, exporting, hiring, assembling, altering, improving, servicing, repairing, and dealing in all kinds of commercial vehicles manufactured by TATA Motors, primarily servicing the North Eastern states of India. The petitioner faced substantial diminishing profits and visible losses during the FYs 2019-20, 2020-21, and 2021-22, leading to the erosion of its entire paid-up share capital and reserves.