Hyderabad: The National Company Law Appellate Tribunal (NCLAT) has on Wednesday stayed corporate insolvency resolution process and appointment of an interim resolution professional for Hyderabad-based infrastructure firm Gayatri Projects.
In a communique to the bourses, Gayatri Projects said it has moved the appellate tribunal against the orders of the National Company Law Tribunal (NCLT) bench at Hyderabad to initiate corporate insolvency resolution process and appointment of an IRP .
Gayatri Projects said the NCLT had passed orders last Tuesday the copy of which it received on October 17 with regards to a petition filed by an operational creditor Jaycon Infrastructure (JLL) claiming default of dues of Rs 2.28 crore.
The Hyderabad …
Read the full article at: https://economictimes.indiatimes.com/markets/stocks/news/nclat-stays-insolvency-process-for-gayatri-projects/articleshow/61140874.cms