Rajkot Nagrik Sahakari Bank Limited, the financial creditor, filed an application on June 21, 2022, under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The application sought to initiate the Corporate Insolvency Resolution Process against Ramdev PVC Product Private Limited, the corporate debtor, due to an alleged default in loan repayment. The financial creditor is a multi-state cooperative bank, and the corporate debtor is a private limited company incorporated under The Companies Act, 1956. The corporate debtor approached the bank for a term loan for machinery and other business activities. After verifying the projections, a machinery term loan limit of Rs.

Rajkot Nagrik Sahakari Bank Limited, the financial creditor, filed an application on June 21, 2022, under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The application sought to initiate the Corporate Insolvency Resolution Process against Ramdev PVC Product Private Limited, the corporate debtor, due to an alleged default in loan repayment. The financial creditor is a multi-state cooperative bank, and the corporate debtor is a private limited company incorporated under The Companies Act, 1956. The corporate debtor approached the bank for a term loan for machinery and other business activities. After verifying the projections, a machinery term loan limit of Rs.