DMB Paper Mills Pvt Ltd, the corporate debtor, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, for initiation of Corporate Insolvency Resolution Process (CIRP). The applicant submitted that the Board of Directors passed a resolution on December 1, 2018, proposing the initiation of CIRP. The applicant also stated that they had passed a Board Resolution and a Special Resolution in an Extraordinary General Meeting on December 20, 2018, authorizing Mr. Irfan Khan to file the application. The respondent, Union Bank of India, declared the account of the applicant as NPA and initiated actions against the applicant. The applicant also filed a writ petition before the High Court, which was rejected. The respondent submitted that the applicant

DMB Paper Mills Pvt Ltd, the corporate debtor, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, for initiation of Corporate Insolvency Resolution Process (CIRP). The applicant submitted that the Board of Directors passed a resolution on December 1, 2018, proposing the initiation of CIRP. The applicant also stated that they had passed a Board Resolution and a Special Resolution in an Extraordinary General Meeting on December 20, 2018, authorizing Mr. Irfan Khan to file the application. The respondent, Union Bank of India, declared the account of the applicant as NPA and initiated actions against the applicant. The applicant also filed a writ petition before the High Court, which was rejected. The respondent submitted that the applicant