The State Bank of India, acting as the Financial Creditor, filed an application under Section 7 of the Insolvency and 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 Shree Bankey Behari Exports Limited, the Corporate Debtor. The Financial Creditor alleged that the Corporate Debtor had defaulted on a payment of Rs. 754,94,95,045. The application sought the declaration of a moratorium and the appointment of an Interim Resolution Professional (IRP).

The State Bank of India, acting as the Financial Creditor, filed an application under Section 7 of the Insolvency and 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 Shree Bankey Behari Exports Limited, the Corporate Debtor. The Financial Creditor alleged that the Corporate Debtor had defaulted on a payment of Rs. 754,94,95,045. The application sought the declaration of a moratorium and the appointment of an Interim Resolution Professional (IRP).