NCLT recognizes US-Based Drip Capital Inc. as Financial Creditor, Initiates CIRP Against Sumarrow Impex LLP [Read Order]

In a recent ruling, the National Company Law Tribunal (NCLT), Ahmedabad Bench, allowed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process (CIRP) against Sumarrow Impex LLP based on a petition filed by the US-based financial creditor, Drip Capital Inc. The application was filed by Drip…

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