Ahmedabad: The National Company Law Tribunal (NCLT) on Monday admitted a corporate insolvency resolution process (CIRP) against a Bus Rapid Transport Service (BRTS) contractor, Khurana Engineering Limited, while acting on a petition filed by Power and Instrumentation (Gujarat) limited under the Insolvency and Bankruptcy Code, 2016.
Power and Instrumentation (Gujarat), a company located near Iskcon crossroads in the city, filed the petition with the NCLT over non-payment of outstanding dues amounting to Rs 2.11 crore towards principal amount and Rs 3.58 crore towards interest.
The company had first filed a winding up petition before Gujarat High Court in 2016 seeking dues for electrification work during BRTS phase 2, the order for which w…
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