Bikki Raveendra Babu, Member - (1.) Jm Financial Asset Reconstruction Company Limited, styling itself as 'Financial Creditor', filed this Application under Section 7 of the Insolvency and Bankruptcy Code, 2016 ["IB Code" for short] read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, ("IB Rules" for short) with a request to initiate Corporate Insolvency Resolution Process against Sandhya Prakash Limited, treating it as 'Corporate Debtor'.
(2.) Jm Financial Asset Reconstruction Company Limited is a Company incorporated under the Companies Act, 1956 and registered as an Asset Reconstruction Company under Section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, having its Registered Office in Mumbai.
(3.) Sandhya Prakash Limited (Respondent) is a Company incorporated and registered under the Companies Act, 1956 having its Registered Office in Bhopal, Madhya Pradesh. Respondent Company is engaged in the business of printing, newspaper, packaging, real estate etc.;