ORDER

PER: MANNI SANKARIAH SHANMUGA SUNDARAM, MEMBER (JUDICIAL)

1. The Present Application is being filed by the Applicant/Operational Creditor, i.e., Ruchira Green Earth Private Limited (“Operational Creditor”) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (“Code”) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 for initiation of Corporate Insolvency Resolution Process against KLB Komaki Private Limited (“Corporate Debtor”). The total amount claimed to be in default from the Corporate Debtor according to the ledger maintained by the Operational Creditor is ₹3,88,21,003/-, which includes the principle amount i.e. ₹3,62,00,270/- (Rupees Three Crores Sixty Two Lakh Two Hundred and Seventy Rupees Only) and interest @ of 24% per annum being ₹26,20,734/-. The amount in default is on account of non-payment of the supply of batteries so received by the Corporate Debtor. The date of Default is the date on which the last Invoice was raised, i.e., 29.08.2022.

2. The Corporate Debtor herein namely KLB Komaki Private Limited bearing CIN U34100DL1987PTC029855 incorporated under the provisions of the Companies Act 1956 is having it