Byrnihat Coal Private Limited, the Corporate Debtor/Applicant, filed an application under Section 10 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against itself. The company was incorporated on March 4, 2005, and is registered as an MSME. The Corporate Debtor faced financial distress due to a ban on coal mining imposed by the Hon'ble Supreme Court of India and the Covid-19 pandemic, leading to its inability to repay its debts. Punjab National Bank (PNB), a financial creditor, issued a notice under Section 13(2) of the SARFAESI Act, 2002, declaring the Corporate Debtor's cash credit account as a non-performing asset. The Corporate Debtor's board of directors decided to initiate proceedings under

Byrnihat Coal Private Limited, the Corporate Debtor/Applicant, filed an application under Section 10 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against itself. The company was incorporated on March 4, 2005, and is registered as an MSME. The Corporate Debtor faced financial distress due to a ban on coal mining imposed by the Hon'ble Supreme Court of India and the Covid-19 pandemic, leading to its inability to repay its debts. Punjab National Bank (PNB), a financial creditor, issued a notice under Section 13(2) of the SARFAESI Act, 2002, declaring the Corporate Debtor's cash credit account as a non-performing asset. The Corporate Debtor's board of directors decided to initiate proceedings under