The case pertains to an application filed by M/s. Alucast Auto Parts Limited under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against itself. The company claimed to be suffering significant losses and lacking assets. The company had taken loans from State Bank of India and Export-Import Bank of India, which were later transferred to Edelweiss Asset Reconstruction Company Limited. Due to recession and unforeseen circumstances, the account with State Bank of India became an NPA in 2012. A restructuring attempt by Edelweiss was revoked due to non-payment of dues. The company also pursued a One Time Settlement (OTS) with the bank, which was sanctioned but could not be fully paid due

The case pertains to an application filed by M/s. Alucast Auto Parts Limited under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against itself. The company claimed to be suffering significant losses and lacking assets. The company had taken loans from State Bank of India and Export-Import Bank of India, which were later transferred to Edelweiss Asset Reconstruction Company Limited. Due to recession and unforeseen circumstances, the account with State Bank of India became an NPA in 2012. A restructuring attempt by Edelweiss was revoked due to non-payment of dues. The company also pursued a One Time Settlement (OTS) with the bank, which was sanctioned but could not be fully paid due