The case concerns an application filed by the Resolution Professional for the approval of a Resolution Plan for Vidarbha Iron & Steel Corporation Ltd. (VISCO), the Corporate Debtor. VISCO had initiated its own insolvency proceedings under Section 10 of the Insolvency and Bankruptcy Code, 2016, on November 27, 2017, which was admitted on March 12, 2018. Mr. Sunil G. Nanal was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP). The core issue revolved around VISCO's role as a guarantor for financial loans obtained by its subsidiary, Facor Steel Limited, from various banks, including Bank of India and Indian Overseas Bank. The total financial debt amounted to approximately ₹118 Crores, while the

The case concerns an application filed by the Resolution Professional for the approval of a Resolution Plan for Vidarbha Iron & Steel Corporation Ltd. (VISCO), the Corporate Debtor. VISCO had initiated its own insolvency proceedings under Section 10 of the Insolvency and Bankruptcy Code, 2016, on November 27, 2017, which was admitted on March 12, 2018. Mr. Sunil G. Nanal was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP). The core issue revolved around VISCO's role as a guarantor for financial loans obtained by its subsidiary, Facor Steel Limited, from various banks, including Bank of India and Indian Overseas Bank. The total financial debt amounted to approximately ₹118 Crores, while the