'Best Food' was a restaurant located at a leased premises in Mumbai. It had a great reputation, award-winning chefs and tastefully designed interiors. Much of its business came from executive lunches and dinners. Followi

'Best Food' was a restaurant located at a leased premises in Mumbai. It had a great reputation, award-winning chefs and tastefully designed interiors. Much of its business came from executive lunches and dinners. Following the opening of 'Heavens', another excellent restaurant in the nearby vicinity, business losses were incurred by Best Food and eventually Best Food became insolvent. All efforts towards reducing the rent or to sell the business were unsuccessful. Suppliers of food, beverages and utilities were unpaid for supplies provided in the previous 45-60 days, amounting to around ₹90,000. There were rental arrears for one month amounting to ₹50,000 towards landlord Gopal (the landlord had received advance rent for three months, lease deed provided for one-month rent as security and two month's rent as advance). Best Food also had a secured creditor, 'IBS Bank'. The bank indicated that it did not wish to appoint a receiver/file for insolvency as the accounts were regularly maintained. Best Food was managed by Mr. Ramesh, as a sole proprietor. He employed a staff of 10 people, including a chef, an assistant chef, six waiters and two housekeeping staff. The salaries due to these employees were paid in half since the past three months. In light of the above, answer the following questions with reference to the provisions of the Insolvency and Bankruptcy Code, 2016. Whether Best Food can apply for fresh start process? Provide answer citing reasons.