The case involves a petition filed by M/s. M.M.S. Steel & Power Private Limited, the Financial Creditor, against M/s. Kasargod Power Corporation Limited, the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claims a default amount of Rs. 7,57,63,243/- in respect of a credit facility availed by the Corporate Debtor. The Corporate Debtor had taken a loan of Rs. 4,25,00,000/- from the Financial Creditor in 2016, agreeing to repay it with 18% interest per annum. The Corporate Debtor made partial payments but failed to repay the outstanding amount by the due date of 20.06.2021. The Financial Creditor sent letters and demand notices, but the Corporate

The case involves a petition filed by M/s. M.M.S. Steel & Power Private Limited, the Financial Creditor, against M/s. Kasargod Power Corporation Limited, the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claims a default amount of Rs. 7,57,63,243/- in respect of a credit facility availed by the Corporate Debtor. The Corporate Debtor had taken a loan of Rs. 4,25,00,000/- from the Financial Creditor in 2016, agreeing to repay it with 18% interest per annum. The Corporate Debtor made partial payments but failed to repay the outstanding amount by the due date of 20.06.2021. The Financial Creditor sent letters and demand notices, but the Corporate