NCLAT upholds NCLT”s order, rejecting Log 9 Mobility”s suspended directors” plea to avoid assisting in the recovery of 100 EVs leased from Gensol EV Lease amid insolvency.
New Delhi, Aug 9 (PTI) Corporate dispute appellate tribunal NCLAT has rejected an appeal of Log 9 Mobility’s two suspended directors challenging an NCLT order that directed them to assist in the recovery of 100 electric vehicles taken on lease by their debt-ridden company from Gensol EV Lease Ltd as part of the latter’s insolvency resolution process.
On July 21, the Ahmedabad bench of the National Company Law Tribunal (NCLT) directed the two suspended directors of Log 9 Mobility to be present in the office of Gensol EV Lease and take all necessary steps for…