MUMBAI: Nirmal Lifestyle Ltd has filed an appeal before the National Company Appellate Law Tribunal (NCLAT) against a recent order of the Mumbai bench of the National Company Law Tribunal (NCLT) which admitted an insolvency resolution petition against the company.
The company, a corporate debtor, had failed to make payment of Rs 286 crores under the facilities it was granted.
The NCLT in its August 5 order, available on Wednesday, appointed chartered accountant Ajit Gyanchand Jain as its interim resolution professional (IRP) to run the day-to-day affairs of the company, in a petition filed financial creditor IDBI Trusteeship Services Ltd under the Insolvency and Bankruptcy Code of 2016.
Ashok Paranjpe, Managing Partner, MDP & Partners who a…
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