The National Company Law Tribunal, Ahmedabad has admitted the insolvency resolution application filed by the Financial Creditor State Bank of India (SBI) against the Corporate Debtor Jyoti Limited and has appointed Nesal Hasmukh Shah as Interim Resolution Professional (IRP).
The two lenders State Bank of India and Central Bank of India had approached the National Company Law Tribunal (NCLT), Ahmedabad Bench to file the application under section 7 of the Insolvency & Bankruptcy Code, 2016 to initiate CIRP against the Corporate Debtor Jyoti Limited for their dues.