Kolkata, October 24:
A public announcement inviting claims against Nicco Corporation Ltd, whose liquidation has been ordered by the National Company Law Tribunal (NCLT), has been released.
According to Vinod Kothari, the liquidator appointed for Nicco, this will help determine the amount payable by the company.
Defaults on loans
Nicco, a specialised cable-maker, defaulted on bank loans amounting to 300 crore.
The lenders include State Bank of India, Allahabad Bank, Canara Bank and Central Bank of India.
The Kolkata-based company moved to insolvency court after the introduction of the new Bankruptcy Act. The deadline for Niccos debt resolution expired on October 13.
Liquidation of assets
As per the process of liquidation, the…
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