NEW DELHI: Government-owned Container Corporation India Ltd (Concor) has got a relief from the National Company Law Appellate Tribunal (NCLAT) after the tribunal stayed an NCLT order allowing the initiation of a corporate insolvency resolution process against the company.
Concor informed in an exchange filing that the NCLAT has stayed the operation of the final order and judgment dated 12 July 2023 issued by NCLT and directed the matter to be listed for further hearing on 4 September 2023.
The container and logistics firm — Concor — is facing insolvency procedures after one of its vendors moved an insolvency plea against the company for not paying a sum of R 87.5 crore. The amount involved is an arbitral awa…
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