ASREC India Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Landmark Motels and Travels Private Limited (Corporate Debtor). The debt originated from State Bank of India and DHFL, was taken over by Indian Bank, and subsequently assigned to ASREC India Limited. The Corporate Debtor defaulted on its payments, leading to the account being declared a Non-Performing Asset (NPA). The Corporate Debtor raised several contentions, including contradictory dates of default, the applicability of Section 10A of the IBC, the effect of an interim moratorium under Section 96 (due to Section 95 proceedings against personal guarantors) on the Section 7

ASREC India Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Landmark Motels and Travels Private Limited (Corporate Debtor). The debt originated from State Bank of India and DHFL, was taken over by Indian Bank, and subsequently assigned to ASREC India Limited. The Corporate Debtor defaulted on its payments, leading to the account being declared a Non-Performing Asset (NPA). The Corporate Debtor raised several contentions, including contradictory dates of default, the applicability of Section 10A of the IBC, the effect of an interim moratorium under Section 96 (due to Section 95 proceedings against personal guarantors) on the Section 7