ORDER

PER: BACHU VENKAT BALARAM DAS, MEMBER (JUDICIAL)

1. The present Application is an application filed under Section 9 of the Insolvency and Bankruptcy Code , 2016 (“IBC” or “Code”) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (“Adjudicating Authority Rules”) by M/s FTI Consulting India Private Limited (Operational Creditor) for initiation of the Corporate Insolvency Resolution Process (“CIRP”) against M/s. MGF Development Limited (“Corporate Debtor) for operational debt amounting to the tune of US Dollars 2,82,623.36 (~Rupees 2,41,03,886). The Corporate Debtor is registered with Registrar of Companies, Delhi and Haryana and is therefore within the jurisdiction of this Adjudicating Authority.

2. Brief Background of Proceedings:

i. Vide order dated 28.01.2025 this Adjudicating Authority directed the Applicant to file an affidavit with respect to the maintainability of the present applicant and file the following documents: