This is an application filed by Omshree Agro Tech Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP) against Kasturi Farm Private Limited (Corporate Debtor).
Omshree Agro Tech Private Limited filed an application under Section 9 of the IBC to initiate CIRP against Kasturi Farm Private Limited.
The Operational Creditor claimed a total default of Rs. 1,38,98,889/-.
The Corporate Debtor argued that the application was not maintainable and that there was a pre-existing dispute.
The Corporate Debtor made a payment of Rs. 25 Lakhs after the demand notice.
The Tribunal found that the Operational Creditor met the threshold of Rs. 1 Crore at the time of filing the application.
The Tribunal appointed Mr. Rajesh Kumar Mittal as the Interim Resolution Professional (IRP).
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Omshree Agro Tech…
The Tribunal admitted the application and…
This is an application filed by Omshree Agro Tech Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP) against Kasturi Farm Private Limited (Corporate Debtor).
Omshree Agro Tech Private Limited filed an application under Section 9 of the IBC to initiate CIRP against Kasturi Farm Private Limited.
The Operational Creditor claimed a total default of Rs. 1,38,98,889/-.
The Corporate Debtor argued that the application was not maintainable and that there was a pre-existing dispute.
The Corporate Debtor made a payment of Rs. 25 Lakhs after the demand notice.
The Tribunal found that the Operational Creditor met the threshold of Rs. 1 Crore at the time of filing the application.
The Tribunal appointed Mr. Rajesh Kumar Mittal as the Interim Resolution Professional (IRP).
Omshree Agro Tech…
The Tribunal admitted the application and…