NCLT Admits Axis Bank Insolvency Petition Against Tirumalla Groundnuts

NCLT Mumbai Bench admits Axis Bank's Section 7 IBC petition against Tirumalla Groundnuts for a default of ₹63.97 crore.
Corporate Debtor was set ex-parte after failing to appear despite multiple service attempts and court notices.
Tribunal appoints Ritesh R. Mahajan as IRP and declares moratorium under Section 14 of IBC.
Financial Creditor directed to deposit ₹3 lakh as initial CIRP cost to be treated as interim finance.