The State Bank of India has dragged energy firm Bhatia Coke and Energy Limited into insolvency process for non-payment of dues of about 125.9 crore to a consortium of banks.
In September 2009, the company availed itself credit from State Bank of India and the erstwhile State Bank of Mysore.
Further, it availed itself a joint working loan of 97 crore (51 crore from State Bank of India, 31 crore from State Bank of Mysore and 15 crore from Punjab National Bank. Bhatia Coke is engaged in trading of coal and coke oven and coal washery manufacturing.
Its account became a non-performing asset (NPA) from November 2017. The lenders had rejected the companys proposal for a one-time settlement.
The Chennai Bench of National Company Law Tribunal admi…
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