The banks had claimed over Rs 260 crore as default dues from the company with further interest and other charges.The Chennai bench of the National Company Law Tribunal (NCLT) has ordered initiation of the corporate insolvency resolution process (CIRP) against power management products, systems and services company Eason Reyrolle, acting on petitions filed by financial lenders State Bank of India (SBI) and Canara Bank.
Though both the lenders have moved NCLT to initiate CIRP against the company and appoint resolution professional separately, the applications were taken up together by the bench comprising R Varadharajan, member-judicial, and Anil Kumar B, member-technical, for disposing off through a common order via video-conferen…
Read the full article at: https://www.financialexpress.com/industry/chennai-nclt-slaps-insolvency-notice-on-eason/1953639/
