State-owned National Asset Reconstruction Company (NARCL) and Manish Lalwani-promoted Omkara Assets Reconstruction Company (ARC) are in the fray to acquire the debt of wind turbine manufacturer Wind World (India) that has been under corporate insolvency process for over five years.
It is time for a full-scale overhaul of the Insolvency and Bankruptcy Code thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
Last week, lenders unanimously voted on a resolution plan given by Punjab State Power Corp (PSPCL), said the people cited above. KPMG-backed resolution professional, Ravi Sethia, has filed an application with the National Company Law Tribunal (NCLT) to get the plan approved.
The Supertech Group condemned the action of the district administration. "The illegal action has caused tremendous hardship to the home buyers who need to visit these offices for their various needs," a company executive said., Delhi News, Times Now