Reliance Infrastructure Limited has announced that the Hon’ble National Company Law Tribunal (NCLT), Mumbai Bench, has admitted a petition filed by Canara Bank Limited. The petition seeks initiation of Corporate Insolvency Resolution Process (CIRP) against HK Toll Road Private Limited, a wholly owned subsidiary of Reliance Infrastructure. The admitted claim amount is INR 282.60 crore.…
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The National Company Law Tribunal (NCLT), Bengaluru Bench, has declared Naseer Ahmed, Member of the Karnataka Legislative Council from the Congress, as “bankrupt” under the Insolvency and Bankruptcy Code (IBC) for failing to repay ₹1,454 crore outstanding loan amount of his erstwhile company M/s Scotts Garments Limited, Bengaluru, now liquidated. The declaration of Mr. Naseer…
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The statement said the order will be reviewed and challenged before appropriate legal forums | Photo Credit: greenleaf123 The National Company Law Tribunal (NCLT) has admitted two significant insolvency petitions filed by public sector lenders — State Bank of India and Canara Bank, marking a fresh escalation in legal and financial challenges involving entities linked…
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