Mumbai: Era Infra Engineering Ltd on Tuesday questioned the Delhi bench of the National Company Law Tribunal (NCLT) over whether insolvency proceedings can be initiated against it when winding-up petitions are pending against the company.
The tribunal was hearing an insolvency petition filed by Union Bank of India against Era Infra. The company is among 12 loan defaulters identified by the Reserve Bank of India (RBI) for the launch of insolvency proceedings by creditors.
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Manoj K. Singh, founding partner of Singh and Associates, a law firm that represents Era Infra Engineering, said the company was in favour of insolvency proceedings, but the overlap with winding-up petitions pending in the courts needs to be addressed. …
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