Gujarat NRE Coke faces liquidation process as creditors reject resolution planGujarat NRE Coke (GNCL) is likely to face liquidation process as the creditors of the company have rejected the resolution plan, submitted by an Ahmedabad-based asset reconstruction company (ARC) Rare Asset Reconstruction under the corporate insolvency resolution process.
Following this to save the company from going in to liquidation, employees of the Kolkata-based firm on Saturday night submitted a resolution plan to the resolution professional (RP), Sumit Binani, Arun Kumar Jagatramka, chairman and managing director of GNCL, told FE. The company currently employs close to 2,000 workers. However, it seems unlikely that the plan, submitted by t…
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