The Chandigarh bench of the National Company Law Tribunal (NCLT) on Wednesday approved the resolution plan by single bidder Liberty House to acquire the assets of debt-laden Amtek Auto Ltd. The company was among the first list of 12 large bad loan accounts that the Reserve Bank of India (RBI) identified for insolvency resolution.
The division bench of justice R.P. Nagrath and technical member Pradeep R. Sethi approved the resolution plan following an insolvency plea filed by Corporation Bank against the auto component manufacturer.
Liberty House is part of the Sanjeev Gupta-led global industrial group GFG Alliance.
This is a very significant m…
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