Central Bank of India, the financial creditor, filed a Company Petition under section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Rangoli International Private Limited, the corporate debtor. The petition was filed on October 23, 2024, alleging a default amount of Rs. 70,66,49,017.24/-, with the date of default stated as April 1, 2015. The corporate debtor's registered office in New Delhi established the NCLT's jurisdiction.

Central Bank of India, the financial creditor, filed a Company Petition under section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Rangoli International Private Limited, the corporate debtor. The petition was filed on October 23, 2024, alleging a default amount of Rs. 70,66,49,017.24/-, with the date of default stated as April 1, 2015. The corporate debtor's registered office in New Delhi established the NCLT's jurisdiction.