Mr. Sahil Deepak Surve, the Financial Creditor, filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Viztar International Private Limited, the Corporate Debtor. The Corporate Debtor was incorporated under the Companies Act, 1956 on 28.09.2007. The Corporate Debtor entered into a loan agreement and executed a deed of hypothecation dated 10th December 2020 in favor of the Applicant agreeing to provide a working capital loan of Rs. 1,25,00,000/- for business expansion. As per the terms of the loan agreement, the Corporate Debtor was bound to repay the loan amount within 30 days from the date of written demand after 30.09.2021. On 1st October 2021, a letter seeking

Mr. Sahil Deepak Surve, the Financial Creditor, filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Viztar International Private Limited, the Corporate Debtor. The Corporate Debtor was incorporated under the Companies Act, 1956 on 28.09.2007. The Corporate Debtor entered into a loan agreement and executed a deed of hypothecation dated 10th December 2020 in favor of the Applicant agreeing to provide a working capital loan of Rs. 1,25,00,000/- for business expansion. As per the terms of the loan agreement, the Corporate Debtor was bound to repay the loan amount within 30 days from the date of written demand after 30.09.2021. On 1st October 2021, a letter seeking