Millenium Starch India CIRP Admission on ₹39.19Cr Default

NCLT Bengaluru admits Millennium Starch India to Corporate Insolvency Resolution Process for defaulting on ₹39.19 crore debt to Axis Bank.
Default occurred on 28.02.2024; account classified as NPA on 31.05.2024 after failure to service ₹40 crore credit facilities.
Tribunal appoints Rahul Sudhakar Kavathekar as Interim Resolution Professional and declares immediate moratorium under Section 14 IBC.
Corporate Debtor's objections on authorization, NeSL reporting, and solvency were rejected as technical and non-substantive.