Maheep Marketing Private Limited, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Deep Star Alloys and Steels Private Limited, the corporate debtor. The petition was filed due to an unresolved operational debt amounting to Rs. 54,81,67,055/-. The operational creditor also proposed Mr. Vishnu Kant Kabra as the Interim Resolution Professional. The operational creditor, a distributor of Hot Rolled Steel Coils, supplied H.R. Coils to the corporate debtor between June 27, 2017, and March 31, 2018. Invoices were raised for these goods, which the corporate debtor failed to pay. The operational creditor maintained a Running Accounting

Maheep Marketing Private Limited, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Deep Star Alloys and Steels Private Limited, the corporate debtor. The petition was filed due to an unresolved operational debt amounting to Rs. 54,81,67,055/-. The operational creditor also proposed Mr. Vishnu Kant Kabra as the Interim Resolution Professional. The operational creditor, a distributor of Hot Rolled Steel Coils, supplied H.R. Coils to the corporate debtor between June 27, 2017, and March 31, 2018. Invoices were raised for these goods, which the corporate debtor failed to pay. The operational creditor maintained a Running Accounting