The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Stressed Assets Stabilization Fund (SASF), the Financial Creditor, against L.S.P Agro Limited, the Corporate Debtor, for initiation of Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor defaulted on repayment of ₹11,05,92,701 as of 29.04.2019. IDBI had sanctioned a Rupee Term Loan of ₹650lacs to the Corporate Debtor based on a Loan Agreement dated 06.03.1998, with disbursements made on various dates. IDBI further sanctioned a second term loan of ₹425lacs. When the Corporate Debtor defaulted, IDBI issued a Recall Notice on 15.01.2002. IDBI filed an Original Application before DRT-I, Chennai, which was later transferred to DRT-II. The Central Government

The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Stressed Assets Stabilization Fund (SASF), the Financial Creditor, against L.S.P Agro Limited, the Corporate Debtor, for initiation of Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor defaulted on repayment of ₹11,05,92,701 as of 29.04.2019. IDBI had sanctioned a Rupee Term Loan of ₹650lacs to the Corporate Debtor based on a Loan Agreement dated 06.03.1998, with disbursements made on various dates. IDBI further sanctioned a second term loan of ₹425lacs. When the Corporate Debtor defaulted, IDBI issued a Recall Notice on 15.01.2002. IDBI filed an Original Application before DRT-I, Chennai, which was later transferred to DRT-II. The Central Government