Nclat: In June, the bankruptcy court s Mumbai bench had accepted a petition from Bank of India to admit the company under corporate insolvency resolution process (CIRP). The bank had claimed dues worth ₹111.61 crore from the company.
The National Company Law Appellate Tribunal (NCLAT) has quashed insolvency resolution proceedings against BD&P Hotels (India), a group entity of listed real estate developer DB Realty, while setting aside an earlier order of the National Company Law Tribunal (NCLT).