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NATIONAL COMPANY LAW TRIBUNAL
K. R. Saji Kumar, Sanjiv Dutt, JJ
Shree Krishna Polymers Private Limited – Appellant
Versus
4MANN Industries Private Limited – Respondent
| Table of Content |
|---|
| 1. factual background of the case. (Para 1) |
| 2. arguments presented by the operational creditor. (Para 2) |
| 3. arguments presented by the corporate debtor. (Para 3) |
| 4. rejoinder of operational creditor. (Para 4) |
| 5. contentions of applicant/corporate debtor. (Para 5) |
| 6. contentions of respondent/operational creditor. (Para 6) |
| 7. further contentions of respondent/operational creditor. (Para 8) |
| 8. analysis and findings of the court. (Para 9) |
ORDER
[PER: K. R. SAJI KUMAR, MEMBER (JUDICIAL)]
1. BACKGROUND
1.1 This C.P. (IB) No. 1206/MB/2022 (Main Application/Section 9 Application) was filed on 12.10.2022, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (AAA Rules) by Shree Krishna Polymers Private Limited, the Operational Creditor (OC), through Mr. Surjeet Dhall, Former Director of the OC, authorised vide Authority Letter dated 10.10.2022, for initiating Corporate Insolvency Resolution Process (CIRP) in respect of 4MANN Industries Private Limited, the Corporate Debtor (CD).
1.2 The total amount of default alleged is Rs.1,04,03,023/- (One Crore Four Lakh Three Thousand
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