Dear Sir/Madam
This is to inform you that the Honourable National Company Law Tribunal (NCLT), Hyderabad Bench has passed the order on 03/06/2019 (uploaded on website on 08/06/2019) admitting the petition CP(IB) No.679/7HDB/2018 under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by the Financial Creditor IDBI Bank Limited and initiating the Corporate Insolvency Resolution Process under Insolvency and Bankruptcy Code, 2016 (IBC). A Copy of the Order issued by the NCLT, Hyderabad is hereby enclosed.
As per Section 17 of the IBC, 2016, the powers of the Board of Directors stands suspended and such powers shall be vested with Dr.M S Sankar (IP Registration No.IBBI/IPA-001/IP-/P00770/2017-2018/11315) appointed as the IRP with r…
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/neueon-towers-ltd-corporate-insolvency-resolution-process-cirp-appointment-of-interim-resolution-professional-irp/article27775167.ece
