The National Company Law Tribunal at Chennai has admitted an insolvency petition filed by Wootu Nutrition Private Limited, a Chennai-based chain of diet and nutrition clinics, initiating the Corporate Insolvency Resolution Process against the company.
A coram of Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam held:
“This Tribunal is satisfied that there is a default in the repayment of debt which is more than the threshold of Rs. 1.0 Crore and the petition filed under Section 10 is complete with all the necessary information.”
Wootu Nutrition Private Limited, a Chennai based chain of diet and nutrition clinics, filed an insolvency petition through its Director, Mani Geetha Priya, seeking initiation of CIRP.
The…