Gupta Synthetics: Corporate Insolvency Resolution Process (CIRP)-Admission of application by Tribunal

Regulation 17(1) of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations 2016). The learned National Company Law Tribunal (NCLT) Mumbai Bench on 17th September 2019 admitted the application made by Kotak Mahindra Bank Limited against Gupta Synthetics Limited under Section 7 of the Insolvency & Bankruptcy Code 2016 and pronounced the commencement of the Corporate Insolvency Resolution Process (CIRP) of Gupta Synthetics Limited. (Corporate Debtor) and appointment of Jovita Reema Mathias as the Interim Resolution Professional (IRP) vide its order dated 17th September 2019 in CP No. 2889/433 434/2019.