ORDER

PER: DR. SANJEEV RANJAN, MEMBER (TECHNICAL)

1. This instant application is filed by M/s Nuberg Engineering Limited (hereinafter referred to as ‘Applicant’/ ‘Operational Creditor’), under Section 9 of the Insolvency and Bankruptcy Code, 2016 (for brevity ‘the Code’) with a prayer to initiate Corporate Insolvency Resolution Process (“CIRP”) in respect of M/s KLJ Petroplast Limited (hereinafter referred as ‘Respondent’ or ‘Corporate Debtor’).

2. The Respondent having CIN: U74210DL1996PLC079817 was incorporated on 10.10.2020 under the provisions of the Companies Act, 2013 having its registered office situated at KLJ House, 8A, 8th Floor, Shivaji Marg, Najafgarh Road, West Delhi - 110015. Since the registered office of the Respondent/Corporate Debtor is in New Delhi, this Adjudicating Authority having territorial jurisdiction over the NCT of Delhi, is the Adjudicating Authority in relation to the prayer for initiation of Corporate Insolvency Resolution Process in respect of Respondent Corporate Debtor.

3. The present petition was registered on 26.02.2024 on the ground that the Respondent has failed to make payment of a sum of ₹1,90,56,379/- (Rupees One Crores Ninety Lakhs Fifty-Six o