K. Anantha Padmanabha Swamy, Member - (1.) Under Consideration is a Company Petition filed by State Bank of India (in short, 'Petitioner/Financial Creditor') against M/s. Senthil Papers and Boards Private Limited (in short, 'Respondent/Corporate Debtor') under section 7 of the Insolvency and Bankruptcy Code 2016 (In short, 'IB Code 2016') r/w Rule 4 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (for brevity, IB Rules 2016).
(2.) Before proceeding with this matter, it would be appropriate to make a note of background facts for the purpose of determination of this petition.
(3.) The petitioner is State Bank of India (Stressed Assets Management Branch), a Banking company whereas the Respondent/Corporate Debtor is a Company registered under the Companies Act, 1956 and engaged in the business of transport, cartage and haulage contractors, garage properties, owners and characters of road vehicles, aircraft packers, haulers, warehouseman, store-keepers etc.;