PBA INFRASTRUCTURE LTD FACES INSOLVENCY PROCEEDINGS

• The National Company Law Tribunal (NCLT), Mumbai Bench, has admitted Canara Bank's insolvency petition against the company. • The tribunal has ordered the commencement of the Corporate Insolvency Resolution Process (CIRP). • Mr. Vijay Pitambar Lulla has been appointed as the Interim Resolution Professional (IRP). • A moratorium has been declared, prohibiting suits and asset disposal against the Corporate Debtor. • The NCLT cited sufficient evidence of debt and default exceeding ₹1 Crore, with default date of March 28, 2012. Impact: Insolvency proceedings initiated against PBA Infrastructure Ltd.

PBA Infrastructure Ltd

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