ORDER

1. The present Petition is filed under section 7 of the Insolvency and Bankruptcy Code, 2016 (for brevity ‘IBC’/Code) read with Rule 4 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules 2016 on 20.12.2022 by Piramal Capital and Housing Finance Limited and Omkara Assets Reconstruction Private Limited seeking to initiate Corporate Insolvency Resolution Process in respect of Atria Brindavan Power Private Limited for committing default in payment of Rs. 428,39,20,221/- (Rupees Four Hundred Twenty Eight Crore Thirty-Nine Lakh Twenty Thousand Two Hundred and Twenty-One Rupees Only) as on 23.05.2024 with further interest accruing thereon and the date of default being 19.12.2023, as per Part IV of Form No. 1 of the Petition. The petition accompanies the Record of Default information in Form-D. Parties to the petition shall hereafter be referred to as reflected in the title of the case.

2. The relevant facts of the case as culled out of pleadings are as follows:

i. The Petitioner/Financial Creditor is a Non-Banking Financial Company earlier known as Piramal Finance Private Limited incorporated on 11.04.1984 under the provisions of the Companies Act, 1956, having