The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Mr. Shrenik Dheerajmal Siroya, the Financial Creditor, against Siroya FM Constructions Private Limited, the Corporate Debtor, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Financial Creditor, who is also a 50% shareholder and director of the Corporate Debtor, claimed a default on a loan amounting to INR 33,53,70,739.90 as of 10.01.2020. Several intervention petitions were filed, including one by Shankerdeep Co-operative Housing Society Limited, with whom the Corporate Debtor had a development agreement, and others by individual investors and flat buyers. The interveners raised concerns about the validity of the debt, the conduct of the

The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Mr. Shrenik Dheerajmal Siroya, the Financial Creditor, against Siroya FM Constructions Private Limited, the Corporate Debtor, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Financial Creditor, who is also a 50% shareholder and director of the Corporate Debtor, claimed a default on a loan amounting to INR 33,53,70,739.90 as of 10.01.2020. Several intervention petitions were filed, including one by Shankerdeep Co-operative Housing Society Limited, with whom the Corporate Debtor had a development agreement, and others by individual investors and flat buyers. The interveners raised concerns about the validity of the debt, the conduct of the