NCLAT revives insolvency proceedings against Chintamani's Jewellery Arcade on Axis Bank plea

Insolvency proceedings against Chintamani's Jewellery Arcade have been revived by the NCLAT after Axis Bank filed a restoration application. The tribunal found the company in material and continuing breach of court-recorded settlement terms, failing to adhere to its repayment schedule. This decision reinstates the corporate insolvency resolution process against the Mumbai-based firm before the NCLT.

Raccontata daeconomictimes.indiatimes.com