ORDER

PER: Bidisha Banerjee, Member (Judicial):

1. This Court congregated through hybrid mode.

2. Heard the Learned Counsels for both parties.

3. This instant application is filed under Section 7 of the Insolvency and Bankruptcy Code, for brevity I&B Code, read with Rule 4 of the Insolvency and Bankruptcy (Application to the Adjudicating Authority) Rules, 2016, by “Central Bank of India”, hereinafter referred to as “Financial Creditor” (“Applicant”/ “FC”) against “M/s Jainco Automotive Pvt Ltd”, hereinafter referred to as “Corporate Debtor” (“Respondent”/ “CD”) seeking direction to initiate Corporate Insolvency Resolution Process (for brevity “CIRP”) in respect of the Corporate Debtor.

4. As of 3rd January, 2024, the total outstanding balance stands at Rs. 43,47,83,415.00/-. This balance is calculated based on a loan amount due and recoverable from Eastern Gases Limited as of 21st August 2018, amounting to Rs. 23,15,37,663.00/-, which was accepted as a claim in liquidation. From this amount, Rs. 10,20,37,136.00/- has been received in liquidation vide Order dated 21.08.2018. Additionally, further interest has accrued from 22nd August 2018 to 20th February 2024, totalling Rs. 30,52,82,888