Hyderabad, June 20:
Shares of Lanco Infratech continued to witness a steep fall, touching an all-time low of 1.70, down 9.57 per cent, on the BSE on Tuesday. This is in addition to the fall of over 20 per cent over the past two days on news of bankruptcy proceedings making the rounds.
RBI move
Earlier, the RBI had directed IDBI Bank, the lead manager of Lanco to initiate the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016.
The company had in a communication informed that the amounts mentioned include 8,146 crore for fund-based outstanding exposure and 3,221 crore for non-fund-based outstanding exposure as on March 31, 2016.
The government has initiated a process to add…
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