NCLT initiates insolvency against SEL, first company under RBI's second list

The Insolvency Petition filed against SEL Manufacturing, the first company under the Reserve Bank of India’s (RBI) second list to have been referred to the National Company Law Tribunal (NCLT), has now been admitted.

SBI referred the case to Chandigarh Bench of the NCLT on October 12, 2017 under Section 7 of the Insolvency and Bankruptcy Code, 2016, (IBC) owing . . .

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