Insolvency Resolution Process Commenced for Diksha Greens Limited by NCLT Kolkata Bench

Diksha Greens Limited, a company that had applied for various credit facilities from Punjab and Sind Bank, has had an insolvency resolution process commenced against it by the National Company Law Tribunal (NCLT) Kolkata Bench. The company had defaulted on its loan repayments, leading to the account being declared a non-performing asset (NPA) on 22.02.2019. Despite repeated demands, the company failed to make any payment or propose a viable settlement, resulting in continued accrual of liability. As of 30.09.2024, the total outstanding claim of the Financial Creditor against the Corporate Debtor stood at ₹ 46,90,75,470.23, along with further interest from 01.10.2024 till the date of actual payment.