The Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, Court-II, passed an order on 06.06.2022, appointing a Resolution Professional and directing them to exercise powers under Section 99 of the IBC and submit a report. PNB Housing Finance Ltd. filed an application under Section 95(1), which has not yet been admitted. The Appellant has filed an appeal against the order. The Appellant has also submitted an OTS proposal to the Bank, which is under consideration. The court noted that the application under Section 95(1) is still pending and has not been admitted or rejected.

The Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, Court-II, passed an order on 06.06.2022, appointing a Resolution Professional and directing them to exercise powers under Section 99 of the IBC and submit a report. PNB Housing Finance Ltd. filed an application under Section 95(1), which has not yet been admitted. The Appellant has filed an appeal against the order. The Appellant has also submitted an OTS proposal to the Bank, which is under consideration. The court noted that the application under Section 95(1) is still pending and has not been admitted or rejected.