NCLT allows liquidation of Nitin Fire Protection

The National Company Law Tribunal (NCLT) has ordered the liquidation of BSE-listed Nitin Fire Protection Industries, a player in fire protection systems which owes more than INR 618 crore to lenders. The Mumbai-based company was admitted under the corporate insolvency resolution process (CIRP) in November 2019 through a petition filed by its lender, Dena Bank.