 "NCLT, Resolutions")
NCLT has allowed Jammu & Kashmir Bank’s plea for default of a corporate guarantee. (Representative image)
The National Company Law Tribunal (NCLT) has directed initiating insolvency proceedings against Himalayan Mineral Waters, allowing Jammu & Kashmir Bank’s plea for default of a corporate guarantee given for LeeL Electricals.
The Allahabad bench of NCLT has also appointed Bhoopesh Gupta as the interim resolution professional (IRP) for this Dehradun-based firm’s Corporate Insolvency Resolution Process (CIRP).
“We are satisfied that the Applicant/Financial Creditor (J&K Bank) has proved the debt and the default, which is more than the threshold limit… the application u/s 7…
