ORDER

[PER: CORAM]

1. BACKGROUND

1.1 This Company Petition No. C.P. (IB) 341/MB/2025 (Application) was filed on 17.01.2025 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 (‘AA Rules’) by Jindal SMI Coated Products Limited, the Operational Creditor (OC), for initiating Corporate Insolvency Resolution Process (CIRP) of Total Print Solutions Private Limited, the Corporate Debtor (CD).

1.2 The total amount of default alleged is Rs. 1,57,27,642/- (Rupees One Crore Fifty-seven lakhs twenty-seven thousand six hundred and forty-two only) with includes principal amount of Rs. 94,02,912/- (Rupees Ninety-Four Lakhs Two Thousand and Twelve Only) and interest amount of Rs. 63,24,730/- (Rupees Sixty-Three Lakhs Twenty-Four Thousand Seven Hundred and Thirty Only).

1.3 As stated in Part IV of the application, the default occurred on 06.04.2022

2. CASE OF THE OC:

2.1 The Operational Creditor is a leading business house inter-alia engaged in the manufacturer of flexible packaging films, speciality films gummed paper