IN RE Vs. SUNRISE ENTERPRISES

JUDGEMENT

(1.) This Company Petition is filed by operational creditor namely M/s. Sunrise Enterprises this Petition contending inter alia that the Corporate Debtor Company M/s. Karuturi Foods Private Limited has defaulted in repaying a sum of Rs.8,48,749/- along with interest and hence this Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 seeking for admission of this petition, declaring moratorium on the Corporate Debtor Company, direction for public announcement of initiation of corporate insolvency process and appointment of Interim Resolution Professional as prescribed under the Code and Rules thereon.

(2.) The Petitioner/Operational Creditor provided services to the corporate debtor pursuant to agreement made by the corporate debtor. The operational creditor has enclosed the copy of agreement regarding supply of manpower to the corporate debtor shown at Annexure-A of the Petition.

(3.) The value of service provided by the operational creditor is at Rs. 18,58,640/- The Corporate debtor has paid Rs. 10,46,565/- to operational creditor/petitioner.