On 30.05.2024, the National Company Law Appellate Tribunal (NCLAT) allowed an appeal against an impugned order dated 04.09.2023 passed by the National Company Law Tribunal (NCLT), Allahabad Bench, in CP(IB)-80/ALD/2022 whereby the petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) filed by the Respondent No. 1 was admitted and the CIRP against the Appellant was initiated.
