Mumbai, April 2, 2025: The National Company Law Tribunal (NCLT), Mumbai Bench-IV, has admitted an insolvency petition filed by Maheshwari Fuelchem Private Limited under Section 9 of IBC against New Bombay Paper Mills Private Limited for a default of ₹3.02 crore. The tribunal ordered the initiation of the Corporate Insolvency Resolution Process (CIRP) and declared a moratorium under Section 14 of the Insolvency and Bankruptcy Code (IBC), 2016.
Key Details of the Case
- Operational Creditor: Maheshwari Fuelchem Pvt. Ltd. (supplier of coal).
- Corporate Debtor: New Bombay Paper Mills Pvt. Ltd. (engaged in paper manufacturing).
- Default Amount: ₹3,02,31,477 (principal) + 15% interest from July 10, 2023.
- NCLT…
