AdlabsEntertainment - Corporate Insolvency Resolution Process
07/06/2019 19:00
Adlabs Entertainment Limited has informed the Exchange about receiving a Notice from National Company Law Tribunal (NCLT), Mumbai Bench on June 07, 2019 via an email, regarding an application filed by one of the Financial Creditors of the Company i.e. Corporation Bank to initiate Corporate Insolvency Resolution Process under Section 7 of Insolvency and Bankruptcy Code, 2016 read with rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 for the default of Rs. 68.84 Crore.