MUMBAI: The National Company Law Tribunal (NCLT) Mumbai on August 6 dismissed an application seeking the closure of Rolta Indias Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code (IBC).
A consortium of lenders to Rolta represented by advocates Rohit Gupta and Nausher Kohli had opposed a plea for closure of the process, saying that they have an outstanding of around Rs 5,400 Crores. The debt owed to them is substantial, said the public sector lenders and financial creditors, before the NCLT bench of Suchitra Kanuparthi, Judicial member and Chandra Bhan Singh. They said withdrawal of CIRP would only lead to multiplicity of proceedings against the corporate debtor before the tribunal which must necessarily be a…
Read the full article at: https://timesofindia.indiatimes.com/business/india-business/nclt-mumbai-dismisses-withdrawal-plea-continues-cirp-against-rolta/articleshow/85213961.cms
