Bank of India, the financial creditor, filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. RNB Cements Pvt. Ltd., the corporate debtor. The financial creditor claimed an outstanding amount of Rs.22,59,77,397.10 due from the corporate debtor, which failed to repay the debt despite demand. The financial creditor had sanctioned and disbursed Term Loan-I of Rs.7.00 crores and Term Loan-II of Rs.7.80 crores, totaling Rs.14.80 crores. These loans were part of a consortium arrangement where State Bank of India was the lead bank, and other banks like Indian Bank and

Bank of India, the financial creditor, filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. RNB Cements Pvt. Ltd., the corporate debtor. The financial creditor claimed an outstanding amount of Rs.22,59,77,397.10 due from the corporate debtor, which failed to repay the debt despite demand. The financial creditor had sanctioned and disbursed Term Loan-I of Rs.7.00 crores and Term Loan-II of Rs.7.80 crores, totaling Rs.14.80 crores. These loans were part of a consortium arrangement where State Bank of India was the lead bank, and other banks like Indian Bank and