Gujarat NRE Coke is one of the companies affected by the recent ordinance which bars promoters from bidding for stressed assets unless they repay the interest and principal amount.
Mumbai: The chairman and managing director of Kolkata-based Gujarat NRE Coke Ltd, Arun Kumar Jagatramka, has criticised bankers and regulators for allowing viable companies to go into liquidation as part of the resolution plan under the National Company Law Tribunal (NCLT). In an advertorial that appeared in The Economic Times on Tuesday, Jagatramka has sought more accountability from bankers for their actions in the insolvency proceedings.
This sharp rebuke from Jagatramka comes at a time when the Kolkata bench of the NCLT has ordered for the liquidation of hi…
Read the full article at: http://www.livemint.com/Companies/045S6mr9BoGeEAe5tI8AYL/Insolvency-code-Gujarat-NRE-Coke-CMD-seeks-more-accountabil.html