New Delhi, The National Company Law Appellate Tribunal (NCLAT) has revived insolvency proceedings against Chintamani's Jewellery Arcade Pvt Ltd allowing a restoration application filed by Axis Bank, holding that the company had committed a material and continuing breach of court-recorded settlement terms.
A three-member NCLAT bench recalled its earlier order passed on May 9, 2024 that set aside the insolvency admission against the company and restored to its original position.
