We wish to inform you that a petition has been filed under section 9 of Insolvency and Bankruptcy Code 2016 (IBC) by M/s. ¬¬¬¬Rishabh Triexim LLP Operational Creditor of the Company before the National Company Law Tribunal - Mumbai Bench (NCLT Mumbai) alleging to default in payment of invoices) amounting to Rs. 2 54 22 363/- (Rupee Two Crores Fifty-four Lakhs Twenty-two thousand Three hundred and Sixty-three only) plus interest and seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the Company.
As there is a dispute in the claim the Company is defending the matter before the NCLT Court.
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