Allahabad Bank, a financial creditor, initiated proceedings against M/s JVR Forgings Limited, the corporate debtor, by filing a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition was filed before the National Company Law Tribunal (NCLT), Chandigarh Bench. The NCLT admitted the petition on 2018-09-12 and declared a moratorium under Section 14(1) of the Code. Mr. Hemanshu Jetley was appointed as the Interim Resolution Professional (IRP). The order specifies the powers and duties of the IRP, including taking control of the corporate debtor's assets, managing its affairs, and constituting a committee of creditors. The corporate debtor's directors and management are required to cooperate with the IRP. The order also directs the IRP to make a

Allahabad Bank, a financial creditor, initiated proceedings against M/s JVR Forgings Limited, the corporate debtor, by filing a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition was filed before the National Company Law Tribunal (NCLT), Chandigarh Bench. The NCLT admitted the petition on 2018-09-12 and declared a moratorium under Section 14(1) of the Code. Mr. Hemanshu Jetley was appointed as the Interim Resolution Professional (IRP). The order specifies the powers and duties of the IRP, including taking control of the corporate debtor's assets, managing its affairs, and constituting a committee of creditors. The corporate debtor's directors and management are required to cooperate with the IRP. The order also directs the IRP to make a