Brilliant Metals Private Limited, the Financial Creditor, filed an application under Section 7 of the IBC against Avyukta Dairy Products Ltd., the Corporate Debtor.

The application was based on a default in repayment of a financial debt arising from an arbitral award dated 02.07.2024.

The arbitral award amounted to Rs 2,58,57,160 as on 02.07.2024, with an interest rate of 8% per annum.

The Corporate Debtor is also the corporate guarantor for loans availed by M/s Avdhesh Construction and Impex Ltd.

The Financial Creditor issued a demand notice dated 15.09.2023, but neither the Corporate Debtor nor the other guarantors discharged their commitments.

The arbitral award attained finality on 02.11.2024, as no appeal was filed by the Corporate Debtor.

Brilliant Metals Private Limited, the Financial Creditor, filed an application under Section 7 of the IBC against Avyukta Dairy Products Ltd., the Corporate Debtor.

The application was based on a default in repayment of a financial debt arising from an arbitral award dated 02.07.2024.

The arbitral award amounted to Rs 2,58,57,160 as on 02.07.2024, with an interest rate of 8% per annum.

The Corporate Debtor is also the corporate guarantor for loans availed by M/s Avdhesh Construction and Impex Ltd.

The Financial Creditor issued a demand notice dated 15.09.2023, but neither the Corporate Debtor nor the other guarantors discharged their commitments.

The arbitral award attained finality on 02.11.2024, as no appeal was filed by the Corporate Debtor.