NCLAT revives insolvency proceedings against Chintamani’s Jewellery Arcade on Axis Bank plea

New Delhi, The National Company Law Appellate Tribunal (NCLAT) has revived insolvency proceedings against Chintamani’s Jewellery Arcade Pvt Ltd allowing a restoration application filed by Axis Bank, holding that the company had committed a material and continuing breach of court-recorded settlement terms. A three-member NCLAT bench recalled its earlier order passed on May 9, 2024…

NCLAT revives insolvency proceedings against Chintamani’s Jewellery Arcade on Axis Bank plea

New Delhi, The National Company Law Appellate Tribunal (NCLAT) has revived insolvency proceedings against Chintamani’s Jewellery Arcade Pvt Ltd allowing a restoration application filed by Axis Bank, holding that the company had committed a material and continuing breach of court-recorded settlement terms.A three-member NCLAT bench recalled its earlier order passed on May 9, 2024 that…

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