Aditya Khaitan, a promoter of McLeod Russel India, the countrys largest bulk tea producer, has filed an appeal in the appellate tribunal against a National Company Law Tribunal (NCLT) order initiating insolvency proceedings in the company. On August 6, the New Delhi Bench of the NCLT passed an order admitting an application by Techno Electric & Engineering, a power infrastructure company, for initiating corporate insolvency resolution against McLeod Russel after defaulting on a Rs 100 crore loan at 14 per cent interest. Khaitan has moved an appeal in the National Company Law Appellate Tribunal (NCLAT) as a member of the suspended board of directors of McLeod Russel. The appeal is listed for hearing on August 25. Khaitan declined to com…
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