Rajdeep Jain, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Jhamb Enterprises Private Limited, the Corporate Debtor. The Financial Creditor had acted as a personal guarantor for the Corporate Debtor's financial facilities availed from the State Bank of India. The Corporate Debtor's account was classified as a Non-Performing Asset (NPA) by the State Bank of India due to its failure to maintain credit facilities.

Rajdeep Jain, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Jhamb Enterprises Private Limited, the Corporate Debtor. The Financial Creditor had acted as a personal guarantor for the Corporate Debtor's financial facilities availed from the State Bank of India. The Corporate Debtor's account was classified as a Non-Performing Asset (NPA) by the State Bank of India due to its failure to maintain credit facilities.