Punjab & Sind Bank rejects Supertech Township Projects’ settlement proposal. NCLAT will now decide on the insolvency of the debt-ridden realty firm. The matter is scheduled for January 23rd.
New Delhi, Jan 11 (PTI) Punjab & Sind Bank, the lead lender of Supertech Township Projects, has rejected the settlement proposal and NCLAT will now take a final decision on the insolvency of the debt-ridden realty firm.
Counsel representing Ram Kishore Arora, the suspended director of the realty firm informed NCLAT on Thursday about the rejection of the settlement proposal.
“Counsel for the appellant (Arora) submits that they have received the communication from Punjab & Sind Bank that the proposal submitted by the appellant is not acceptable,” noted…
