State Bank of India (Financial Creditor/Applicant) filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Debpara Tea Company Limited (Corporate Debtor/Respondent) to initiate Corporate Insolvency Resolution Process (CIRP) due to a default in repayment of a financial debt amounting to Rs. 17,49,52,268/-. The Corporate Debtor had availed credit facilities from the Financial Creditor, which were subsequently reviewed, renewed, and enhanced. Despite part payments, the Corporate Debtor failed to repay the principal and interest, leading to its account being classified as a Non-Performing Asset (NPA). The Financial Creditor issued a demand notice and also filed an application before the Debts Recovery Tribunal for recovery.

State Bank of India (Financial Creditor/Applicant) filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Debpara Tea Company Limited (Corporate Debtor/Respondent) to initiate Corporate Insolvency Resolution Process (CIRP) due to a default in repayment of a financial debt amounting to Rs. 17,49,52,268/-. The Corporate Debtor had availed credit facilities from the Financial Creditor, which were subsequently reviewed, renewed, and enhanced. Despite part payments, the Corporate Debtor failed to repay the principal and interest, leading to its account being classified as a Non-Performing Asset (NPA). The Financial Creditor issued a demand notice and also filed an application before the Debts Recovery Tribunal for recovery.