Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
NCLT initiates CIRP against Tirumalla Agro Industries
The National Company Law Tribunal admitted insolvency proceedings against Tirumalla Agro Industries for loan default. The petition was filed by a financial creditor, leading to initiation of the Corporate Insolvency Resolution Process (CIRP). The article details the NCLT’s observations, creditor claims, and appointment of Interim Resolution Professional (IRP), emphasizing timely redress under IBC provisions.