Bankruptcy Court admits Oban Fashions under insolvency resolution

Oban Fashions Pvt Ltd, a subsidiary of Rupa & Co Ltd, has been admitted under the Corporate Insolvency Resolution Process by the Mumbai bankruptcy court, following an application by its operational creditor, Sunrise Knitting Mills Pvt Ltd. The National Company Law Tribunal appointed Sanjay Ramdas Mahajan as the Interim Resolution Professional, with outstanding dues amounting to Rs 1.57 crore.