In a recent order, the National Company Law Tribunal (NCLT), Ahmedabad Bench, admitted an insolvency petition filed by an operational creditor, a Panipat‑based proprietorship, against Evoq Remedies Limited after finding that the company failed to supply goods or refund an advance of ₹1.95 crore paid for castor oil.
After the operational creditor Harbhole Agrotech issued a demand notice under Section 8 of the Insolvency and Bankruptcy Code (IBC), Evoq Remedies failed to respond or raise any dispute. The tribunal observed that the debt and default were clearly established and that the petition met all statutory requirements under Sections 8 and 9 of the Code.
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