As per the information provided to us, AZB acted for South Indian Bank, who had initiated Corporate Insolvency Resolution process against Atlas Gold Townships and the Atlas Group of Companies including its promotors and directors, on account of the the default of more than INR 267 Crores before NCLT Kochi.
Putting light on the progress in the case, the Firm disclosed:
"We were successful in getting the appeal dismissed before the National Company Law Appellate Tribunal and thereafter before the Hon’ble Supreme Court of India despite the challenge made by the promoter of Atlas Group on the pretext of latest judgment of Supreme Court on the aspect of law of limitation in IBC proceedings."
The AZB & Partners Team included Partner Parag Maini and Counsel Abhimanyu Chopra.
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