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Nagpur: Create economic uncertainty by indulging in financial mismanagement and corruption seems to be the most-liked but equally dubious modus operandi of companies to go bankrupt in order to dodge the action of their creditors. The Jayaswals of Neco, Nairs of Orange City Hospital, Nairsons of coal companies and many such more hit the headlines for financial mismanagement, corruption and scams. All these entities faced or facing the disgraceful actions of auctions of their assets. The list of such companies indulging in corruption and scams is getting bigger and bigger. One more name has been added to the list. Facor Steels Limited is on the block.
The National Company Law Tr…
Read the full article at: http://www.nagpurtoday.in/after-gupta-nairs-bhatia-its-now-facor-steels-limited-initiate-insolvency-process/06122049