IN RE Vs. BROWN KRAFT INDUSTRIES LIMITED

JUDGEMENT

(1.) This Company Petition is filed by Brown Kraft Industries Limited., under Section 10 of Insolvency and Bankruptcy Code 2016 ("the Code") read with Rule 7 of Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules 2016 for initiation of Corporate Insolvency Resolution process.

(2.) The Corporate Debtor says that its registered office is at Silverline, 1st Floor, S.B. Marg, J.B. Nagar, Andheri (East), Mumbai-400 059, incorporated on 6.6.1986 vide CIN U21020MH1986SGC040046 on the file of Registrar of Companies Maharashtra, having Authorised share capital of Rs. 3.00 crores and paid up share capital of Rs. 2.66 crores.

(3.) The Board of Directors of the Corporate Debtor in their meeting held on 10.5.2017 authorised Mr. Situ Shastri, Director of the Company, to file necessary application under the Code. The Board also proposed Mr. Adesh Kumar Mehta, 10/63, Old Rajender Nagar, New Delhi - 110 060, Email Id: Mehta_adesh@yahoo.com, Registration No. IBBI/IPA-002/IP-00046/2016-17/1264, as interim resolution professional, who has given his consent with a declaration that no disciplinary proceedings are pending against him.