Aksh Optifibre Faces IBC Insolvency Application; Appeals NCLAT

Aksh Optifibre Limited has been served with an insolvency application under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by Shantanu Investments Private Limited. The National Company Law Tribunal (NCLT), Jaipur Bench, delivered divergent opinions, leading to a referral to a third member. This third member concurred with the Technical Member, deeming the application maintainable. The company disputes the order, citing errors in fact and law, and has filed an appeal with the National Company Law Appellate Tribunal (NCLAT). Aksh Optifibre is pursuing all available legal remedies to protect stakeholder interests.