NCLT Admits Insolvency Petition Against Amar Seeds

NCLT Mumbai admits Section 7 IBC application against Amar Seeds Pvt Ltd for a default of ₹24.26 crore.
Financial creditor Buldana Urban Cooperative Credit Society Ltd. sanctioned an ₹18 crore loan in April 2023.
Corporate debtor defaulted on three consecutive monthly instalments starting April 2024, triggering the recall clause.
Tribunal appointed RSDS Advisory & Restructuring LLP as IRP and declared a moratorium under Section 14 IBC.