The The National Company Law Appellate Tribunal (NCLAT) on Thursday stayed a bankruptcy court order to admit an insolvency resolution plea against listed real estate developer DB Realty.
An NCLAT division bench of Justice Ashok Bhushan and a technical member Barun Mitra has posted the matter for further hearing on September 6.
DB Realty had approached the appellate tribunal to challenge the National Company Law Tribunal’s July 4 order to admit Bank of India‘s corporate insolvency resolution process (CIRP) plea against the company.
Detailed order of the appellate tribunal was not available until the time of filing the story.
“The company will have to deposit 387 crore within 90 days as per its earlier one-time-settlement (OTS) offer (to Ban…
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