The case originates from a petition filed by Naveen Malhotra, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Vishal Lakto India Limited, the corporate debtor. The operational creditor, an advocate, claimed an unpaid operational debt of Rs. 3,10,000 for professional services rendered. Despite repeated reminders, the corporate debtor failed to clear the outstanding amount. A demand notice was issued, and subsequently, the petition was filed after the corporate debtor failed to make the payment. The corporate debtor initially did not file a reply, leading to an ex-parte order. Later, the corporate debtor sought to set aside the ex-parte order, which was

The case originates from a petition filed by Naveen Malhotra, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Vishal Lakto India Limited, the corporate debtor. The operational creditor, an advocate, claimed an unpaid operational debt of Rs. 3,10,000 for professional services rendered. Despite repeated reminders, the corporate debtor failed to clear the outstanding amount. A demand notice was issued, and subsequently, the petition was filed after the corporate debtor failed to make the payment. The corporate debtor initially did not file a reply, leading to an ex-parte order. Later, the corporate debtor sought to set aside the ex-parte order, which was