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Liquidation

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Naseer Ahmed Insolvency: NCLT declares Congress MLC Naseer Ahmed insolvent over Rs 1,455-crore loan default, ETLegalWorld

Bankruptcy

National Company Law Tribunal (NCLT) Bengaluru (Karnataka) [India], June 13 (ANI): In a major setback for Congress MLC Naseer Ahmed, the National Company Law Tribunal (NCLT) has declared him insolvent over default on bank loans and interest totalling Rs 1,454.71 crore. The order puts his Legislative Council membership and voting rights at risk. The case…