The Insolvency appellate tribunal NCLAT has set aside the directions of the NCLT for a forensic audit of Golden Tobacco, and a change in the resolution professional of the debt-ridden cigarette maker.
Passing an order over a batch of petitions filed against the NCLT order, the National Company Law Appellate Tribunal also extended the timeline for completing the CIRP (Corporate Insolvency Resolution Process) of Golden Tobacco till October 17, 2025.
Besides, the appellate tribunal has also directed the NCLT to decide over the claims of financial creditors — Central Bank of India, Arrow Engineering and others and then to reconstitute the lenders’ body…
