ORDER

Per: Manoj Kumar Dubey, Member (Technical)

1. The present petition is filed on 29.06.2021, by Vistra ITCL (India) Limited(hereinafter referred as ‘Financial Creditor/Petitioner’), under section 7of the Insolvency and Bankruptcy Code, 2016 (for brevity ‘IBC’/Code), r/w. Rule 4 of the I&B (Application to Adjudicating Authority) Rules 2016, inter alia, seeking to initiate Corporate Insolvency Resolution Process in respect of M/s Excel Dwellings India Private Limited(hereinafter referred as ‘Corporate Debtor/Respondent’) for a total outstanding default amount of Rs. 87,97,46,671/- (Rupees Eighty-Seven crores Ninety-Seven Lakhs Forty-Six Thousand Six Hundred and Seventy-One Only) as on 31.05.2021, as per Part IV of Form No. 1. The Date of default has been mentioned as 16.04.2021. The working as been given as under:

2. The facts of the case are discussed below:

a. It is submitted that the corporate debtor viz M/s Excel Dwellings India Private Limited and M/