ICICI Bank Ltd. filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate corporate insolvency resolution process against Eastern Gases Ltd., the corporate debtor. The application was filed due to the corporate debtor's failure to pay a debt of Rs. 21,34,69,146.42. The corporate debtor had availed financial assistance from the applicant bank, including working capital and overdraft facilities. The applicant bank recalled the loan and issued a recall notice, but the corporate debtor failed to repay the dues. The corporate debtor had also filed proceedings against the applicant bank in the Civil Court and the High Court, challenging the classification of the loan account. The corporate debtor argued that the financial creditor had

ICICI Bank Ltd. filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate corporate insolvency resolution process against Eastern Gases Ltd., the corporate debtor. The application was filed due to the corporate debtor's failure to pay a debt of Rs. 21,34,69,146.42. The corporate debtor had availed financial assistance from the applicant bank, including working capital and overdraft facilities. The applicant bank recalled the loan and issued a recall notice, but the corporate debtor failed to repay the dues. The corporate debtor had also filed proceedings against the applicant bank in the Civil Court and the High Court, challenging the classification of the loan account. The corporate debtor argued that the financial creditor had