NCLT ADMITS VHM INDUSTRIES FOR INSOLVENCY

Corporate Laws

---

20th December,2022

The decision of Mumbai bench of The National Company Law Tribunal (NCLT) came on a petition filed by the State Bank of India. The lender had approached the bankruptcy court in 2019 after the company defaulted on dues of more than Rs. 221 cr.

The supply of essential goods and services to the company should not be terminated, suspended or interrupted during the moratorium period under the CIRP, the NCLT bench of members HV Subha Rao and Anuradha Sanjay Bhatia said in an order dated December 16.

The bankruptcy court has admitted VHM Industries to undergo the corporate insolvency resolution process (CIRP) and appointed Sunil Kumar Agrawal as the interim resolution professional for the Mumbai- based taxtile manufacture.

Go!