NCLT Chennai admits Section 7 IBC petition filed by IDBI Trusteeship against Ozone Projects for default on ₹126.3 crore debentures.
Tribunal dismisses Ozone's Section 65 application alleging fraudulent initiation, finding no proof of malicious intent by financial creditor.
Mr. Ashok Mittal appointed as Interim Resolution Professional with moratorium declared under Section 14 of IBC.
Total admitted debt amounts to ₹212.31 crore including principal, interest, and redemption premium as of July 2022.