NCLT Mumbai to Handle Section 7 IBC Application: Punjab National Bank Authorized to Proceed Against Corporate Debtor.

Territorial Jurisdiction for consideration of section 7 application - on the issue of jurisdiction it is unambiguously clear that Punjab National Bank (International) Limited as financial creditor is fully entitled and authorised to take action in respect of section 7 application against the corporate debtor under the IBC before the NCLT, Mumbai which shall be the Adjudicating Authority to adjudicate the section 7 application. - AT .....

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