This panic is raised when the Kernel cannot find an object in the object index for the current process or current thread using the specified object index number (the raw handle number).
The most common reason for this is trying to use a kernel-side resource without first having sucessfully created it or sucessfully opened it. Typically, such resources are created or opened through user side handles, which are instances of classes derived from RHandleBase, for example, RLibrary, RThread, RProcess, RSemaphore etc. [Note that this list is not exhaustive].
For example, a call to RLibrary::Lookup() panics with KERN-EXEC 0 if not preceded by a successful call to RLibrary::Load().