Published:October 18, 2017 2:20 am
According to sources, Kunal Banerjee proposed to start liquidation process as the committee rejected resolution plans prepared by the Kolkata-based firm.
The Kolkata bench of the National Company Law Tribunal (NCLT) on Tuesday ordered liquidation proceedings against Nicco Corporation after its lenders voted against the corporate resolution plans prepared by the company.
According to sources, Kunal Banerjee, who had been appointed the resolution professional to work with the committee of creditors to come up with a corporate resolution plan for the revival of the company, proposed to…
Read the full article at: http://indianexpress.com/article/business/companies/nclt-orders-liquidation-proceedings-against-nicco-corp-4895702/
