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VERIFIEDET Finance·negative
NCLAT revives insolvency proceedings against Chintamani's Jewellery Arcade on Axis Bank plea
AI Summary
- ·The NCLAT has revived insolvency proceedings against Chintamani's Jewellery Arcade following an application by Axis Bank.
- ·The tribunal determined the company was in material and continuing breach of court-recorded settlement terms.
- ·The corporate insolvency resolution process against the Mumbai-based firm has been reinstated before the NCLT.