The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Omkara Assets Reconstruction Private Limited, the Financial Creditor, against Vidarbha Sugar Mills Private Limited, the Corporate Debtor, for initiation of Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor had availed working capital limits from a consortium of banks, including the original lender, Nagpur Nagarik Sahakari Bank Ltd. Due to losses, the Corporate Debtor defaulted on repayments, leading to the conversion of the working capital facility into a Working Capital Term Loan (WCTL). The Corporate Debtor continued to default, resulting in the account being classified as a Non-Performing Asset (NPA). The Financial Creditor initiated proceedings

The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Omkara Assets Reconstruction Private Limited, the Financial Creditor, against Vidarbha Sugar Mills Private Limited, the Corporate Debtor, for initiation of Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor had availed working capital limits from a consortium of banks, including the original lender, Nagpur Nagarik Sahakari Bank Ltd. Due to losses, the Corporate Debtor defaulted on repayments, leading to the conversion of the working capital facility into a Working Capital Term Loan (WCTL). The Corporate Debtor continued to default, resulting in the account being classified as a Non-Performing Asset (NPA). The Financial Creditor initiated proceedings