Lokesh Santoshji Agarwal, an Operational Creditor, filed an application under Section 9 of the IBC, 2016, against Arpana W Flour Mills Private Limited, the Corporate Debtor, to initiate Corporate Insolvency Resolution Process (CIRP). The application stemmed from an unpaid operational debt of Rs. 2,03,77,512/- for grains supplied since FY 2017-2018. The Corporate Debtor, a proprietorship firm converted into a Private Limited Company on 23.07.2020, failed to clear the outstanding dues. The date of default was deemed 21.06.2021. A legal notice was sent on 21.04.2024, to which the Corporate Debtor replied on 03.06.2024, acknowledging the debt and extending the limitation period. A subsequent Demand Notice was sent on 21.01.2025.
Lokesh Santoshji Agarwal (Operational Creditor/Applicant) filed an application bearing C.P. (IB) No.615/MB/2025 under Section 9 of the IBC, 2016.
The application seeks to initiate Corporate Insolvency Resolution Process (CIRP) against Arpana W Flour Mills Private Limited (Corporate Debtor).
The Corporate Debtor is engaged in the business of flour mills, and the Applicant is a proprietorship firm supplying grains.
The total operational debt claimed to be in default by the Operational Creditor is Rs. 2,03,77,512/-.
The date of default is identified as 21.06.2021.
The Operational Creditor and Corporate Debtor had a business relationship for supply of wheat (agri-commodity products) since FY 2017-2018.
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Arpana W Flour Mills…
The date of default is…
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Lokesh Santoshji Agarwal, an Operational Creditor, filed an application under Section 9 of the IBC, 2016, against Arpana W Flour Mills Private Limited, the Corporate Debtor, to initiate Corporate Insolvency Resolution Process (CIRP). The application stemmed from an unpaid operational debt of Rs. 2,03,77,512/- for grains supplied since FY 2017-2018. The Corporate Debtor, a proprietorship firm converted into a Private Limited Company on 23.07.2020, failed to clear the outstanding dues. The date of default was deemed 21.06.2021. A legal notice was sent on 21.04.2024, to which the Corporate Debtor replied on 03.06.2024, acknowledging the debt and extending the limitation period. A subsequent Demand Notice was sent on 21.01.2025.
Lokesh Santoshji Agarwal (Operational Creditor/Applicant) filed an application bearing C.P. (IB) No.615/MB/2025 under Section 9 of the IBC, 2016.
The application seeks to initiate Corporate Insolvency Resolution Process (CIRP) against Arpana W Flour Mills Private Limited (Corporate Debtor).
The Corporate Debtor is engaged in the business of flour mills, and the Applicant is a proprietorship firm supplying grains.
The total operational debt claimed to be in default by the Operational Creditor is Rs. 2,03,77,512/-.
The date of default is identified as 21.06.2021.
The Operational Creditor and Corporate Debtor had a business relationship for supply of wheat (agri-commodity products) since FY 2017-2018.
…Arpana W Flour Mills…
The date of default is…
Sign in to view related legal provisions.