Moneycontrol News
Bank of Baroda, lender to Amrapali Infrastructure, has filed a petition of insolvency against the developer with National Company Law Tribunal (NCLT). The tribunal has admitted the plea.
According to a ET Realty report, bank had moved the NCLT on August 10, while court pronounced its order only today.
Amrapali Infrscturacture owes Rs 97.30 crore to the bank.
The company is an infrastructure company that deals with the leasing of equipment, particularly hollow core slabs and column beams for affordable housing projects. It has a factory in the Greater Noida region.
The NCLT will now appoint an insolvency resolution professional (IRP), who will have 270 days to get the company back into shape before the assets…
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