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PNB’s insolvency application against T V Vision admitted by NCLT, triggering a moratorium
31-Jul-2026, 06:20
Punjab National Bank’s application to initiate the Corporate Insolvency Resolution Process (CIRP) against T V Vision Limited has been admitted by the National Company Law Tribunal (NCLT), triggering a moratorium on legal action and asset disposal. The NCLT, citing previous Supreme Court rulings, limited its review to verifying the existence of a default exceeding Rs 1 crore, rejecting arguments regarding the debtor’s financial viability. Mr. Alok Kumar Murarka was appointed as the Interim Resolution Professional, who will receive an initial funding of Rs 3,00,000 from PNB to cover CIRP costs and will submit monthly progress reports to the NCLT. The order reinforces the limited scrutiny applied at the admission stage of IBC proceedings and prioritizes the resolution process.
Punjab National Bank’s application to initiate the Corporate Insolvency Resolution Process (CIRP) against T V Vision Limited has been admitted by the National Company Law Tribunal (NCLT), triggering a moratorium on legal action and asset disposal. The NCLT, citing previous Supreme Court rulings, limited its review to verifying the existence of a default exceeding Rs 1 crore, rejecting arguments regarding the debtor’s financial viability. Mr. Alok Kumar Murarka was appointed as the Interim Resolution Professional, who will receive an initial funding of Rs 3,00,000 from PNB to cover CIRP costs and will submit monthly progress reports to the NCLT. The order reinforces the limited scrutiny applied at the admission stage of IBC proceedings and prioritizes the resolution process.