The Supreme Court has paved the way for banks and financial institutions to initiate recovery proceeding against individuals, who have guaranteed corporate loans by upholding the government notification of 15 November 2019.
Punj Llyod announced that taking cognizance of the fact that the company is in corporate insolvency resolution process (CIRP), CARE has withdrawn the rating of CARE D; issuer not cooperating , assigned to the NCD issue and bank facilities of the Company with immediate effect.
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