Court Halts Insolvency Process, Empowers Board to Handle Liabilities Amid Pending Petition, Including Sonepat Unit Concerns.

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....Decision to save the company from Initiation of CIRP during the pendency of the petition - It is a fit case in which the Board of Directors should be allowed to take its own decision as to how it will meet its end for meeting the liabilities of the ‘Operational Creditors’ / ‘Financial Creditors’ and whether the liability is of one or other unit including ‘Sonepat Unit’....