The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT) concerning an insolvency matter. The appellant is Ajay Mittal, the suspended director of Arshiya Ltd., and the respondent is Punjab National Bank & Anr. The counsel for the respondent submitted that the appellant never approached the largest member of the consortium. The counsel for the appellant submitted that Punjab National Bank rejected the proposal submitted by the appellant for settlement.

The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT) concerning an insolvency matter. The appellant is Ajay Mittal, the suspended director of Arshiya Ltd., and the respondent is Punjab National Bank & Anr. The counsel for the respondent submitted that the appellant never approached the largest member of the consortium. The counsel for the appellant submitted that Punjab National Bank rejected the proposal submitted by the appellant for settlement.