NCLT admits Prudent ARC's Section 7 petition to initiate CIRP against Super Property Maintenance Pvt Ltd over a ₹30.56 crore default.
The petition was transferred from Delhi High Court winding-up proceedings where no irreversible liquidation steps had been taken.
The corporate debtor's account was classified as NPA on 24 April 2018 after defaulting on facilities originally from Lakshmi Vilas Bank.
The tribunal appointed CS Vikas Kumar Garg as IRP and ordered a moratorium under Section 14 effective immediately.