NCLT allows insolvency proceedings against Blue Blends

Our Bureau | | Updated on: Dec 08, 2021
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Vinit Gangwal appointed as the Interim Resolution Professional

The National Company Law Tribunal, Mumbai Bench, has allowed the commencement of debt resolution process of BSE-listed Blue Blends (India) Ltd under the insolvency and bankruptcy rules.

NCLT has appointed Vinit Gangwal as the Interim Resolution Professional, according to a stock exchange filing.

The petition was filed in NCLT by an operational creditor- Sarla Performance Fibres Ltd after Blue Blends failed to clear dues. The NCLT observed that the company failed to reply to its notice and the counsel appearing for the company did not raise any objections to commencing insolvency proceedings.

Published on December 08, 2021

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