NCLT JUDGEMENT ON RULE 7 OF THE INSOLVENCY AND BANKRUPTCY (APPLICATION TO ADJUDICATING AUTHORITY) RULES, 2016 AND SECTION 10, 10(4), 10(4)(A) OF THE INSOLVENCY AND BANKRUPTCY CODE, 2016
NAME MOBILE NO. E-MAIL I’D RANJEET KUMAR 8383098478 , 9667769795 rk@courtkutchehry.com JAI THAKUR 8130703334 , 9355723300 jai.thakur@courtkutchehry.com RAJEEV RANJAN 9334553249 rajiv.ranjan@courtkutchehry.com ASHOK MISHRA 9718327746 sales@courtkutchehry.com RAVI KUMAR ravi.singh@courtkutchehry.com In Re_ Synew Steel Private Limited Vs., (2020) 06 NCLT CK 0002 NCLT allowed the application filed by the applicant under Section 10 of the IBC, 2016, R/w Rule 7 of the l&B (Application to Adjudicating Authority) Rules, 2016, by inter alia seeking to initiate Corporate Insolvency Resolution Process (CIRP), on the ground that it has committed default for total amount of Rs.1,18,56,964/- (Rupees One Crore Eighteen Lakh Fifty Six Thousand Nine Hundred and Sixty Four only) which includes Financial Creditors (Rs.27,84,394/-) and Operational Creditors (Rs.90,72,570/-). While allowing the application NCLT held that as stated sup...