Insolvency Plea Admitted against Kraft Paper Manufacturer: NCLT Finds Debt and Default Proven u/s 9 IBC [Read Order]

Liquidation

The National Company Law Tribunal (NCLT), Bengaluru Bench, has admitted an insolvency petition filed by the applicant under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The tribunal found that the debt and default were clearly established, noting that the corporate debtor failed to pay operational dues exceeding ₹ 1.96 crore despite statutory demand notices and acknowledged liability, thereby warranting initiation of…

Financial Distress No Shield: NCLT Admits Sec. 9 Plea, Initiates CIRP and Moratorium Against Corporate Debtor [Read Order]

Liquidation

In a recent ruling, the National Company Law Tribunal (NCLT), Bengaluru Bench, has admitted an insolvency petition filed by the petitioner under Section 9 of the Insolvency and Bankruptcy Code, 2016, after finding that the corporate debtor’s plea of financial distress could not absolve it from repayment obligations. The operational creditor sought initiation of the Corporate Insolvency…

Commentary – Business Insolvency Demography 2015 to 2025

Liquidation

This publication uses company insolvency data from the monthly Company Insolvency Statistics, combined with the Office for National Statistics’ (ONS) Inter-Departmental Business Register (IDBR), which provides demographic information about businesses. Since multiple companies can be related to one business, these statistics are not comparable with the Insolvency Service’s other statistics publications. We have defined a…

Absence of genuine dispute leads to CIRP against paper mill over ₹1.25 crore operational debt: NCLT admits insolvency plea under Sec. 9 IBC [Read Order]

Liquidation

The National Company Law Tribunal (NCLT), Chennai Special Bench‑II, has admitted an insolvency petition filed by the petitioner under Section 9 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency ResolutionProcess (CIRP) over an operational debt of ₹1.25 crore. The petitioner, Arjun Saikumar, engaged in coal trading and supplied “non‑cooking steaming coal” to the Coimbatore‑based paper…

No Cookies | Herald Sun

Liquidation

Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently…

No Cookies | The Advertiser

Liquidation

Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently…

Yes Bank Loan Secured on Promoters’ Property Reclassified as Unsecured in Roofco Trading Insolvency: NCLT [Read Order]

Liquidation

In a recent ruling, the National Company Law Tribunal (NCLT) Kochi Bench has directed the reclassification of Yes Bank’s ₹4.92 crore loan to Roofco Trading Company Private Limited as unsecured financial debt, holding that the mortgage relied upon by the bank was created over the promoters’ personal properties and not the corporate debtor’s assets. The…