Karnataka High Court stays insolvency order against State-owned Cauvery Neeravari Nigam

The Karnataka High Court on Monday stayed the initiation of corporate insolvency resolution proceedings (CIRP) against Cauvery Neeravari Nigam Limited (CNNL), a Karnataka government-owned irrigation company [Cauvery Neeravari Nigam Vs Union of India]. The stay order was passed by Justice Suraj Govindaraj in a writ petition challenging a December 10 order of the National Company…

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