Drip Capital Inc, the Financial Creditor (FC), filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, for initiating Corporate Insolvency Resolution Process (CIRP) in respect of Albys Agro Private Limited, the Corporate Debtor (CD).
Drip Capital Inc filed an application under Section 7 of the IBC to initiate CIRP against Albys Agro Private Limited.
The application was filed due to a default in payment of USD 180,057.00.
The Corporate Debtor admitted to a default of over Rs. 1 crore.
The Corporate Debtor stated that it had no objection to the initiation of insolvency proceedings against itself.
The Adjudicating Authority found that the Corporate Debtor was in default of more than Rupees One Crore.
The Adjudicating Authority admitted the application and initiated CIRP.
Primus Insolvency Resolution & Valuation Private Limited was appointed as the Interim Resolution Professional (IRP).
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C.P. (IB) No.1203/MB/202…
Date of default is…
Drip Capital Inc, the Financial Creditor (FC), filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, for initiating Corporate Insolvency Resolution Process (CIRP) in respect of Albys Agro Private Limited, the Corporate Debtor (CD).
Drip Capital Inc filed an application under Section 7 of the IBC to initiate CIRP against Albys Agro Private Limited.
The application was filed due to a default in payment of USD 180,057.00.
The Corporate Debtor admitted to a default of over Rs. 1 crore.
The Corporate Debtor stated that it had no objection to the initiation of insolvency proceedings against itself.
The Adjudicating Authority found that the Corporate Debtor was in default of more than Rupees One Crore.
The Adjudicating Authority admitted the application and initiated CIRP.
Primus Insolvency Resolution & Valuation Private Limited was appointed as the Interim Resolution Professional (IRP).
C.P. (IB) No.1203/MB/202…
Date of default is…