NAGPUR: The National Company Law Tribunal (NCLT) has admitted an insolvency petition against a Chandrapur-based company over a liability of Rs2.81 lakh. It is among the smallest amounts, so far, for which a case has been fought under the Insolvency and Bankruptcy Code (IBC) 2016, said insolvency practitioners.
Even as IBC 2016 has set the threshold limit of dues for which a petition can be admitted at Rs1 lakh, rarely has a case been filed for such an amount, said professionals.
The company, Samadhan Marketing and Merchandise Private Limited, is running departmental stores in Chandrapur. The petition was filed by brothers Nandlal Popat and Dhayalal Popat, who were former directors of the company. They had leased out their premises to …
Read the full article at: https://timesofindia.indiatimes.com/city/nagpur/tribunal-admits-rs2-81-lakh-claim-under-insolvency-code/articleshow/68070713.cms