NCLT Mumbai Admits Canara Bank’s Insolvency Plea Against Supreme Housing Over ₹567 Crore Default

The National Company Law Tribunal (NCLT) at Mumbai on Wednesday admitted Canara Bank’s Section 7 insolvency petition against Supreme Housing & Hospitality Private Limited over a default of ₹567.43 crore and initiated corporate insolvency resolution process (CIRP) against the company. A Bench of Judicial Member Nilesh Sharma and Technical Member Sameer Kakar observed: “Accordingly, in…