Construction firm MBL Infrastructure is hoping to avoid liquidation with the promoter of the company likely to infuse Rs 50,100 crore capital, according to two people aware of the development.
A consortium of 15-20 lenders and insolvency professionals have tweaked the resolution plan that must be submitted to the National Company Law Tribunal (NCLT) for approval by December 23, the deadline set for the company under insolvency and bankruptcy proceedings started six months ago, said a senior executive who asked to remain anonymous.
RBL Bank had dragged the once sought-after road builder to the NCLT for failing to repay a loan. The insolvency professional, in consultation with lenders, has also availed of advisory services in drawing a…
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