JM Financial Asset Reconstruction Company (acting as trustee of JMFARC-KVB Iris II march 2016 - Trust), Financial Creditor, filed Application under Sec. 7 of the Insolvency and Bankruptcy Code read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules 2016 to initiate the CIR process against the Company. The Hon'ble NCLT, Hyderabad Bench vide Order dated 13.08.2024 initiated the CIR process.