Lanco Infratech, currently under insolvency proceedings, today said its Resolution Professional (IRP) is approaching the National Company Law Tribunal (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 of India (RBI) had last June directed IDBI Bank, lead lender of Lanco Infratech, to initiate insolvency proceedings for the company under the Insolvency and Bankrup…
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