STCI Finance Limited, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Essel Corporate Resources Private Limited, the Corporate Debtor. The petition sought resolution for a financial debt of Rs. 107,59,58,558/-, comprising a principal amount of Rs. 71,57,70,194/- and interest of Rs. 36,01,88,364/-. The stated date of default was January 1, 2020. The Financial Creditor sanctioned a corporate loan of Rs. 125,00,00,000/- to the Corporate Debtor on December 7, 2017, following an application. A Letter of Intent (LOI) dated March 1, 2018, outlined the terms, including a 36-month tenor from the first disbursement, quarterly interest payments at 9.25% per

STCI Finance Limited, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Essel Corporate Resources Private Limited, the Corporate Debtor. The petition sought resolution for a financial debt of Rs. 107,59,58,558/-, comprising a principal amount of Rs. 71,57,70,194/- and interest of Rs. 36,01,88,364/-. The stated date of default was January 1, 2020. The Financial Creditor sanctioned a corporate loan of Rs. 125,00,00,000/- to the Corporate Debtor on December 7, 2017, following an application. A Letter of Intent (LOI) dated March 1, 2018, outlined the terms, including a 36-month tenor from the first disbursement, quarterly interest payments at 9.25% per