Mumbai NCLT Ruling: ₹50 Lakh Penalty in Bhiwandi Insolvency‑Fraud Case
The National Company Law Tribunal (NCLT) has ordered a former director of Barracks Retail India Pvt. Ltd. to repay over ₹50.36 lakh along with 12% annual interest, after finding prima facie evidence of alleged fraudulent diversion of rental income during insolvency proceedings. The ruling has also triggered a referral to the Insolvency and Bankruptcy Board…

