Lanco Infratech, currently under insolvency proceedings, today said its Resolution Professional (IRP) is approaching the NCLT seeking approval for”the company’s liquidation or any other direction”as”a potential buyer has come with a revised “resolution plan”.
The revised plan had been submitted by Thriveni Earthmovers, a Tamil Nadu-based infra and mining firm, on Tuesday as the creditors of Lanco Infratech earlier”rejected its “resolution plan”, the company said in a regulatory filing.
The Reserve Bank had last June directed IDBI Bank, lead lender of Lanco Infratech, to initiate insolvency proceedings for the company under the Insolvency and Bankruptcy Code (IBC).
The company, among 12 firms identified by the R…
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