MACRO LEAFIN PRIVATE LIMITED Vs. ARROW RESOURCES LIMITED

JUDGEMENT

(1.) The Macro Leafin Private Limited (for brevity 'Financial Creditor) has filed the instant application under Section 7 of the Insolvency and bankruptcy Code, 2016 (for brevity 'the Code') with a prayer for initiation of Insolvency Resolution Process in the matter of Arrow Resources Limited (for brevity 'the Corporate Debtor'). It is appropriate to mention that Financial Creditor is a Company incorporated under the provisions of the Companies Act, 1956. Its CIN number is U67190WB1995PTC073610 and it has its registered office situated at 39/1, Sir Hariram Goenka Street, 1st Floor, Banstalla, Kolkata-700007.

(2.) The Financial Creditor has also proposed the name of Shri Ambarish Chatterjee, A-395, Sector-19, Noida-201301. His registration number is IBBI/IPA-IP/00036/2016-17/1045. A written communication dated 31.05.2017 in terms of Rule 9(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 has also been placed on record (Annexure-J). There are necessary disclosures made by Mr. Ambarish Chatterjee as per the requirement of the IBBI Regulations. Accordingly, he satisfies the requirement of Section 7 (3) (b) of the Code.

(3.) The Corporate Debtor-respondent is incorporated as a Company limited by shares in the category of Non-government public company and its authorized share capital is 25,00,000/-.