Hyderabad, Oct 20:
Gayatri Projects has secured the stay of insolvency proceedings order initiated by NCLT with regard to a petition filed by Jaycon Infrastructure claiming default of dues worth Rs 2.28 crore.
The Hyderabad-based construction and infrastructure company has secured a stay order for the appointment of Interim Resolution Professional (IRP) till November 14, 2017 and the next hearing is posted on November 15 at the National Company Law Appellate Tribunal (NCLAT).
Gayatri Projects had filed an appeal on October 18, with the National Company Law Appellate Tribunal, and secured a stay on the appointment of Insolvency Resolution professional till November 14.
The matter relates to Jaycon Infrastructu…
Read the full article at: http://www.thehindubusinessline.com/companies/nclat-stays-insolvency-proceedings-against-gayatri-projects/article9916806.ece
