The Bank of India filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Krishna Oils & Proteins Private Limited, citing default in repayment of term loans, EPC, and CC facilities. The bank, incorporated under the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970, claimed a total due of INR 15,56,82,404.36 as of March 1, 2019. The corporate debtor, Krishna Oils & Proteins Private Limited, incorporated on October 4, 2006, with a nominal share capital of INR 1,00,00,000, defaulted on August 2, 2014. The bank submitted various documents, including loan agreements, CIBIL reports, and ROC search reports, to substantiate its claim.

The Bank of India filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Krishna Oils & Proteins Private Limited, citing default in repayment of term loans, EPC, and CC facilities. The bank, incorporated under the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970, claimed a total due of INR 15,56,82,404.36 as of March 1, 2019. The corporate debtor, Krishna Oils & Proteins Private Limited, incorporated on October 4, 2006, with a nominal share capital of INR 1,00,00,000, defaulted on August 2, 2014. The bank submitted various documents, including loan agreements, CIBIL reports, and ROC search reports, to substantiate its claim.