NCLT Kolkata admits SREI Equipment Finance's Section 7 insolvency petition against Rankini Power Generation for default on Rs 690 crore loan.
Tribunal rejects Rankini's defenses including alleged fraud claims, authorization issues, and pending commercial suit, finding debt and default established.
Moratorium imposed and Mr. Bijay Murmuria appointed as Interim Resolution Professional with CIRP costs of Rs 3 lakhs payable by financial creditor.