NCLAT Chennai: Malavika Hegde vs. IndusInd Bank – Settlement Terminates CIRP

Malavika Hegde, Suspended Director of Coffee Day Global Limited Vs IndusInd Bank Ltd. & Anr. (NCLAT Chennai) Introduction: In a recent development, the National Company Law Appellate Tribunal (NCLAT) Chennai passed a significant order in the case of Malavika Hegde, the suspended Director of Coffee Day Global Limited, versus IndusInd Bank Ltd. and another party. This order revolves around a pivotal ‘Settlement’ that led to the termination of the Corporate Insolvency Resolution Process (CIRP). Let’s delve into the details of this case. Detailed Analysis: The case, represent...