NCLT Mumbai Bench admits Bank of India's Section 7 IBC petition against Supreme Engineering Ltd for a default of ₹117.5 crore.
Tribunal rejects Corporate Debtor's arguments on limitation, Section 10A bar, and moratorium under Section 96 from parallel guarantor proceedings.
Corporate Insolvency Resolution Process initiated; S. Gopalakrishnan appointed IRP and moratorium declared under Section 14.
Financial Creditor directed to deposit ₹3 lakh for initial CIRP costs; interim application IA/5513/MB/2025 dismissed.