The case involves an application filed by Asset Reconstruction Company (India) Limited (ARCIL) under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Dhar Textile Mills Limited. ARCIL, acting as a trustee of ARCIL AST 002-1 Trust and ARCIL AST - II Trust, acquired secured dues from State Bank of India, State Bank of Indore, and State Bank of Saurashtra through an assignment deed dated 22.03.2013. The corporate debtor, Dhar Textile Mills Limited, was incorporated on 15.06.1984. ARCIL claimed default on debt amounting to Rs. 337,55,92,367/- along with interest from 2003, with the account declared NPA in March 2004. The corporate debtor proposed settlement in 2013, which did not materialize. Later,

The case involves an application filed by Asset Reconstruction Company (India) Limited (ARCIL) under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Dhar Textile Mills Limited. ARCIL, acting as a trustee of ARCIL AST 002-1 Trust and ARCIL AST - II Trust, acquired secured dues from State Bank of India, State Bank of Indore, and State Bank of Saurashtra through an assignment deed dated 22.03.2013. The corporate debtor, Dhar Textile Mills Limited, was incorporated on 15.06.1984. ARCIL claimed default on debt amounting to Rs. 337,55,92,367/- along with interest from 2003, with the account declared NPA in March 2004. The corporate debtor proposed settlement in 2013, which did not materialize. Later,