The Hyderabad bench of NCLT accepted the petition against Lanco Infratech moved by IDBI Bank and appointed Savan Godiawala as the interim insolvency professional.
Mumbai: The National Company Law Tribunal (NCLT) has admitted insolvency proceedings against Lanco Infratech Ltd, among the 12 identified cases referred to the tribunal following the Reserve Bank of Indias 13 June directive, the company said in a stock exchange filing on Thursday.
The Hyderabad bench of NCLT accepted the petition moved by IDBI Bank and appointed Savan Godiawala as the interim insolvency professional. The order was passed on 7 August.
As a result of the said order, the power of the board directors stands suspended, the company said.
Upon admission of the petition, …
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