Employees of Bhushan Steel Ltd recently objected to the bid from Tata Steel Ltd, which was eventually declared the successful applicant. Photo: Reuters
Mumbai: Noting the key role of employees in companies undergoing bankruptcy proceedings, lenders and bidders are paying extra attention to ensure resolution plans take care of their interest to avoid any disruption in operations.
Employees of Bhushan Steel Ltd recently objected to the bid from Tata Steel Ltd, which was eventually declared the successful applicant. At Gujarat NRE Coke, employees intervened to liquidate the company as going concern. Considering the appeal of around 1,200 permanent workers, the National Company Law Tribunal (NCLT) asked the liquidator to sell the companys asse…
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