Nishant Fadia Offers Rs 354 Crore Deposit in Insolvency Stay

Nishant Fadia appeals NCLAT against Section 7 insolvency proceeding for Rs 353.79 crore debt.
Appellant claims corporate debtor is solvent with 12000 employees and offers to deposit full amount.
NCLAT directs deposit of Rs 353.79 crore in interest-bearing account by May 20, 2026, and stays impugned order.
IRP prohibited from further action; matter listed for July 9, 2026, with liberty to apply for vacation if deposit fails.