NCLT Admits Indian Bank's Insolvency Plea Against APL Metals

NCLT Kolkata admits Indian Bank's Section 7 IBC application against APL Metals Limited for a default of ₹114.87 crores.
The corporate debtor's account was declared NPA on 29.08.2024 with the default date recorded as 15.05.2024.
Mr. Santanu Brahma is appointed as the Interim Resolution Professional to manage the CIRP.
A moratorium under Section 14 of the IBC is imposed, prohibiting legal actions against the corporate debtor.