The Principal Bench, National Company Law Appellate Tribunal (NCLAT), New Delhi, has dismissed Indian Bank’s appeal challenging the NCLT’s rejection of its application filed under Section 95 of the Insolvency and Bankruptcy Code (IBC), seeking to initiate personal insolvency proceedings against Anjanee Kumar Lakhotia, former director of MBL Infrastructure Ltd.
The appeal arose from an order passed by the NCLT, New Delhi Bench. The case has its roots in the insolvency proceedings of MBL Infrastructure Ltd., which was admitted to the Corporate Insolvency Resolution Process (CIRP) in 2017. A resolution plan submitted by Anjanee Kumar Lakhotia, the then promoter and suspended director, was approved by the Committee of…
