Jai Balaji case: Calcutta HC recalls winding-up orderProviding relief to State Bank of India in the case of defaulting Jai Balaji Industries (JBIL), the Calcutta High Court has recalled its winding-up order against the debt-laden steel producer.
In its application filed before the high court, SBI had prayed for recalling the order directing the winding up of JBIL and the official liquidator to take possession of the assets of the company.
The Calcutta High Courts winding-up order, dated June 7, against the defaulting company had put SBI, one of the secured financial creditors, in a fix as its insolvency petition against the steelmaker is pending before the National Company Law Tribunals (NCLT) Kolkata bench. Starting liq…
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