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Promoters willing to infuse funds into McNally Bharat: Srinivas Singh, managing director


Promoters willing to infuse funds into McNally Bharat: Srinivas Singh, managing director
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Synopsis
McNally Bharat is among a long list of construction companies to face the prospect of bankruptcy. However, finding buyers for such companies has been difficult under the NCLT route. At least three such companies Lanco Infratech, Punj Lloyd and IVRCL have gone into liquidation after banks took them into insolvency proceedings.
Agencies
The
Khaitan family of Kolkata’s Williamson Magor group is willing to infuse funds into their construction company,
McNally Bharat Engineering, even as the company stares at potential bankruptcy after two lenders took it to the National Company Law Tribunal (NCLT), according to a top executive. ....

West Bengal , Srinivas Singh , Williamson Magor , Lanco Infratech , Mcleod Russel , Mcnally Bharat , National Company Law Tribunal , Canara Bank , Reserve Bank , Mcnally Bharat Engineering , Mcnally Bharat Engineering , Nally Bharat , Punj Lloyd , Eveready Industries , Williamson Magor Group , மேற்கு பெங்கல் , ஸ்ரீநிவாஸ் சிங் , லான்கோ இன்ப்றதேச் , மக்ல்ந்ட் ரஸ்ஸல் , ம்க்நல்லி பாரத் , தேசிய நிறுவனம் சட்டம் தீர்ப்பாயம் , கனரா வங்கி , இருப்பு வங்கி , ம்க்நல்லி பாரத் பொறியியல் , நல்லி பாரத் பொறியியல் , நல்லி பாரத் ,

Two top lenders file petitions against McNally Bharat in NCLT


Synopsis
A consortium of banks that include public sector lenders, private sector banks and foreign banks are owed around ₹4,000 crore by the company. The dues comprise both long term and short term loans as well as non-fund based facilities such as letters of credit and bank guarantees.
Agencies
McNally Bharat had succeeded in fending off a similar threat of bankruptcy proceedings in 2019 when Tata Capital dragged it to NCLT.
Engineering, procurement and construction company
McNally Bharat Engineering is facing an Insolvency and Bankruptcy Code (IBC) test as two major financial creditors, Bank of India and
Canara Bank, have lodged petitions at NCLT to trigger insolvency proceedings against the company, as per court filings. ....

Srinivas Singh , Williamson Magor , Mcleod Russel , Mcnally Bharat , Eveready Industries , Williamson Magor Group , Brij Mohan Khaitan Group , Bankruptcy Code , Nally Bharat , Kolkata Based Williamson Magor , Mcleod Russel , Tata Capital , Mcnally Bharat Engineering , Canara Bank , ஸ்ரீநிவாஸ் சிங் , மக்ல்ந்ட் ரஸ்ஸல் , ம்க்நல்லி பாரத் , ஏவேரெஅடி தொழில்கள் , ப்ரிஜ் மோகன் கைதன் குழு , திவால்நிலை குறியீடு , நல்லி பாரத் , லியோட் ரஸ்ஸல் , டாடா மூலதனம் , ம்க்நல்லி பாரத் பொறியியல் , கனரா வங்கி ,