MUMBAI: The National Company Law Tribunal (NCLT) has admitted Mumbai-based Guruashish Construction for insolvency proceedings as the company has failed to repay a Rs 250 crore debt with the lender – Union Bank of India hoping to recover the soured loan.
It is evident that the corporate debtor defaulted in repaying the loan availed and also placed the name of insolvency resolution professional to act as interim resolution professional, having this Bench noticed that default has occurred, said B S V Prakashkumar member (judicial) and V Nallasenapathy member (technical) in an order from NCLT Mumbai bench.
The petition is admitted.
The bench has appointed Rajendra Bhutta, a chartered accountant from Mumbai as the interim resolution pr…
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