IN RE Vs. SBM PAPER MILLS PRIVATE LIMITED

JUDGEMENT

(1.) The Petitioner M/S. SBM Paper Mills Private Limited is the Corporate Debtor who had filed the Petition on 04.09.2017 under Section 10 of the Insolvency & Bankruptcy Code 2016 to declare itself as insolvent.

(2.) Background of the case : -

(3.) The Corporate Debtor has filed this Application based on a default in payment to the bank and its Financial/Operational Creditor viz. M/S. Allahabad Bank, Opposite Skylark Hotel, Central Avenue, Gandhi Bagh, Nagpur - 440002, Maharashtra and Operational Creditor Jai Hanuman Industries, Lathia Rubber Mfg. Co. Pvt. Ltd. etc. The Computation of default amount to each of Bank's Debt alongwith the statement of accounts on 06.09.2016, as follows:-