NCLT approves Kalyan Toll s resolution plan for Lanco Hoskote Highway
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The National Company Law Tribunal (NCLT) has approved the Rs 201.89 crore resolution plan proposed by Kalyan group firm Kalyan Toll Infrastructure for the Lanco group’s Bengaluru-Hoskote-Mulbagal toll road project.
The National Company Law Tribunal (NCLT) has approved the Rs 201.89 crore resolution plan proposed by Kalyan group firm Kalyan Toll Infrastructure for the Lanco group’s Bengaluru-Hoskote-Mulbagal toll road project. The Lanco Hoskote Highway L (LHHL) project will be the first national highway asset to change hands through the corporate insolvency resolution process mechanism.
The tribunal’s Hyderabad bench has approved the proposal submitted to it by the company’s committee of creditors comprising State Bank of India and Edelweiss Asset Reconstruction Company. It includes an upfront payment as well as deferred payments till March 2022. The Indore-based Kalyan group h