Hyderabad: Beleaguered Hyderabad-based infra player IVRCL Ltd on Thursday informed the bourses that its lender State Bank of India had initiated corporate insolvency proceedings against the company under the Insolvency and Bankruptcy Code 2016 (IBC). The company said SBI had initiated Corporate Insolvency Resolution Process (CIRP) against the company and filed an application against the company under regulation 7 of the IBC 2016 with the National Company Law Tribunal (NCLT).
“Pursuant to regulation 30 of SEBI (LODR) Regulations 2015, we inform you that State Bank of India (lender) have initiated Corporate Insolvency Resolution Process (CIRP) against the company under Insolvency and Bankruptcy Co…
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