The Mumbai bench of the National Company Law Tribunal (NCLT) has approved the liquidation of Gupta Coal India.(Representational image)The Mumbai bench of the National Company Law Tribunal (NCLT) has approved the liquidation of Gupta Coal India, sources aware of the development told FE. The Nagpur-based firm had filed a petition for the initiation of insolvency proceedings and was admitted by the NCLT on March 9. A mail sent to the company remained unanswered till the time of going to press. The company owes lenders close to `2,580 crore, according to the NCLT order on March 9. Around 13 banks, led by Bank of India, are believed to have loaned the company money. Gupta Corporation, Gupta Global Resources and Gupta Energy are…
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