TV Vision Ltd: NCLT Admits Insolvency Plea by Punjab National Bank

TV Vision Ltd has announced that the National Company Law Tribunal (NCLT), Mumbai Bench, has orally pronounced an order admitting an application filed by Punjab National Bank. The application, filed by the bank as a Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code, 2016, initiates the Corporate Insolvency Resolution Process (CIRP) against the company. The detailed written order is awaited, and TV Vision Ltd will submit it to the stock exchanges upon receipt, along with further required disclosures. This disclosure is based on the oral pronouncement to ensure timely information dissemination to stakeholders.