The case involves an application filed by Small Industries Development Bank of India (SIDBI) under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the corporate insolvency resolution process against Mansa Print & Publishers Limited, the corporate debtor. SIDBI, the financial creditor, claimed that the corporate debtor defaulted on its loan repayments. The corporate debtor argued that SIDBI had already initiated recovery proceedings under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (RDB Act), and therefore, parallel proceedings under the IBC were not permissible. The corporate debtor also contended that SIDBI had not complied with RBI guidelines for restructuring the loan. The corporate debtor had also made a reference

The case involves an application filed by Small Industries Development Bank of India (SIDBI) under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the corporate insolvency resolution process against Mansa Print & Publishers Limited, the corporate debtor. SIDBI, the financial creditor, claimed that the corporate debtor defaulted on its loan repayments. The corporate debtor argued that SIDBI had already initiated recovery proceedings under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (RDB Act), and therefore, parallel proceedings under the IBC were not permissible. The corporate debtor also contended that SIDBI had not complied with RBI guidelines for restructuring the loan. The corporate debtor had also made a reference