PC Jeweller faces insolvency plea from SBI; NCLT adjourns hearing till Aug 21
New Delhi, Aug 2 (PTI) Public sector lender State Bank of India (SBI) has taken PC Jeweller to the National Company Law Tribunal (NCLT) with a plea to initiate insolvency proceedings against the city-based jewellery manufacturer and retailer claiming a default.
A Delhi-based principal bench of NCLT had issued a notice to PC Jeweller last week directing it to file a reply over the plea filed by its financial creditor SBI under section 7 of the Insolvency & Bankruptcy Code.
The principal bench headed by its President Justice Ramlingam Sudhakar had directed the matter to be listed as SBI's plea on August 2 for further consideration.
