Its do or die for BHEL as court asks PSU to pay due amount to MSME or be declared insolvent
New Delhi, Aug 26 (KNN) In a big blow to Bharat Heavy Engineering Limited (BHEL), the National Company Law Tribunal (NCLT) has asked the PSU to either pay the amount due to a MSME under procurement policy or go to jail and be declared insolvent.
The rap from the court comes as a follow up of the first ever notice served to the BHEL, the state run company which reportedly recorded a turnover of Rs 28,840 crore in the year, by NCLT in response to the plea filed by a MSME regarding pending payment for over 11 years. The PSU is now in a …
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