The case is a Company Appeal (AT) (Insolvency) No.837 of 2024 before the National Company Law Appellate Tribunal, Principal Bench, New Delhi. The appellant, Ajay Mittal, is the Suspended Director of Arshiya Ltd. The respondent is Punjab National Bank & Anr. The appellant's counsel submitted that an earlier proposal given on 2024-05-10 was not accepted, and a fresh proposal was given to the bank. The bank's counsel stated they would obtain instructions regarding the fresh proposal.
Ajay Mittal, the Suspended Director of Arshiya Ltd., filed a Company Appeal (AT) (Insolvency) No.837 of 2024 against Punjab National Bank & Anr. The appellant's counsel stated that a proposal made on 2024-05-10 was not accepted, and a new proposal was submitted to the bank. The bank's counsel requested time to obtain instructions from the bank regarding the new proposal. This indicates a dispute related to insolvency proceedings and a potential settlement attempt through proposals.
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The case is a Company Appeal (AT) (Insolvency) No.837 of 2024 before the National Company Law Appellate Tribunal, Principal Bench, New Delhi. The appellant, Ajay Mittal, is the Suspended Director of Arshiya Ltd. The respondent is Punjab National Bank & Anr. The appellant's counsel submitted that an earlier proposal given on 2024-05-10 was not accepted, and a fresh proposal was given to the bank. The bank's counsel stated they would obtain instructions regarding the fresh proposal.
Ajay Mittal, the Suspended Director of Arshiya Ltd., filed a Company Appeal (AT) (Insolvency) No.837 of 2024 against Punjab National Bank & Anr. The appellant's counsel stated that a proposal made on 2024-05-10 was not accepted, and a new proposal was submitted to the bank. The bank's counsel requested time to obtain instructions from the bank regarding the new proposal. This indicates a dispute related to insolvency proceedings and a potential settlement attempt through proposals.
Appellant gave a…
Learned counsel for the Appellant submits…
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