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tulip hotels: NCLAT upholds insolvency proceedings against Tulip Hotels over default of guarantees

The National Company Law Appellate Tribunal (NCLAT) upheld insolvency proceedings against Tulip Hotels for defaulting on Rs 450 crore corporate guarantees given for Cox & Kings and EzeeGo One Travel & Tours. Yes Bank initiated the process over a plea for Rs 900 crore default. ....

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