Reliance Commercial Finance Limited ('Financial Creditor') filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Bharat Bright Bars Private Limited ('Corporate Debtor') to initiate Corporate Insolvency Resolution Process (CIRP). The petition was based on a 'Financial Debt' of Rs. 42,73,790/- arising from a 'Working Capital Loan' granted to the Corporate Debtor as per a Loan Agreement dated 2015-07-29. The date of first default was 2017-04-15, and the date of NPA was 2018-04-20. The Corporate Debtor remained absent throughout the proceedings, except for a brief appearance by an advocate who sought time for settlement. The Financial Creditor provided evidence of the loan agreement, disbursement of funds, and a 'Demand Promissory Note'.

Reliance Commercial Finance Limited ('Financial Creditor') filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Bharat Bright Bars Private Limited ('Corporate Debtor') to initiate Corporate Insolvency Resolution Process (CIRP). The petition was based on a 'Financial Debt' of Rs. 42,73,790/- arising from a 'Working Capital Loan' granted to the Corporate Debtor as per a Loan Agreement dated 2015-07-29. The date of first default was 2017-04-15, and the date of NPA was 2018-04-20. The Corporate Debtor remained absent throughout the proceedings, except for a brief appearance by an advocate who sought time for settlement. The Financial Creditor provided evidence of the loan agreement, disbursement of funds, and a 'Demand Promissory Note'.