New Delhi, Dec 27 (PTI) The National Company Law Tribunal (NCLT) has directed initiation of insolvency proceedings against Hero Electric after admitting a plea filed by Metro Tyres, an operational creditor claiming a default of Rs 1.85 crore.
As per provisions of the Insolvency & Bankruptcy Code (IBC), NCLT has appointed Bhoopesh Gupta as Interim Resolution Professional to run the company after suspending the board of Hero Electric.
Also Read | Odisha Police Constable Answer Key 2024 Released At odishapolice.gov.in, Objections Open Until December 30.
The Delhi-based bench of NCLT rejected the contentions of Hero Electric of a pre-existing dispute with the operational…
