NCLT Chennai admits Section 7 IBC petition filed by Kisetsu Saison Finance against Wiz Logtec India for a default of ₹32.48 crore.
Corporate Debtor acknowledged debt but failed to repay despite multiple opportunities and claims of impending equity infusion.
Mr. R. Venkatakrishnan appointed as Interim Resolution Professional; moratorium under Section 14 IBC comes into immediate effect.
Interim application seeking asset protection is dismissed as the moratorium renders it infructuous.