The Union Bank of India filed an application IBA/323/IB/CB/2019 against NAG (INDIA) PVT LTD. An application MA/508/2019 was filed to prepone the hearing date, which was initially scheduled for 2019-06-12. The applicant raised concerns that the Corporate Debtor was planning to dispose of its machinery, potentially harming the interests of the financial creditors. The Corporate Debtor's counsel assured the court that the Corporate Debtor would not dispose of the machinery or land located at SIPCOT Industrial Complex, Narasingapuram Village, Ranipet, Vellore District, or any other assets. The court then issued an order restraining the Corporate Debtor from disposing of, encumbering, or leasing out the specified assets until further notice.

The Union Bank of India filed an application IBA/323/IB/CB/2019 against NAG (INDIA) PVT LTD. An application MA/508/2019 was filed to prepone the hearing date, which was initially scheduled for 2019-06-12. The applicant raised concerns that the Corporate Debtor was planning to dispose of its machinery, potentially harming the interests of the financial creditors. The Corporate Debtor's counsel assured the court that the Corporate Debtor would not dispose of the machinery or land located at SIPCOT Industrial Complex, Narasingapuram Village, Ranipet, Vellore District, or any other assets. The court then issued an order restraining the Corporate Debtor from disposing of, encumbering, or leasing out the specified assets until further notice.