Lanco Kondapalli Power admitted into IBC process – BusinessLine
The National Company Law Tribunal, Hyderabad, has admitted Lanco Kondapalli Power Ltd for insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. Axis Bank, the lender for the group company of Lanco Infratech Ltd, had dragged the Kondapalli project for insolvency proceedings following default in payment of statutory dues. Lanco Infratech Ltd, a listed…