IDBI Bank Limited, the financial creditor, filed an application on December 22, 2020, under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, against Archit Builders Private Limited, the corporate debtor. The application sought to initiate the Corporate Insolvency Resolution Process (CIRP), declare a moratorium, and appoint an Interim Resolution Professional (IRP).

IDBI Bank Limited, the financial creditor, filed an application on December 22, 2020, under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, against Archit Builders Private Limited, the corporate debtor. The application sought to initiate the Corporate Insolvency Resolution Process (CIRP), declare a moratorium, and appoint an Interim Resolution Professional (IRP).