HYDERABAD: The National Company Law Tribunal (NCLT) on Monday ordered the liquidation of Lanco Infratech, after the infrastructure firms committee of creditors rejected a revised resolution plan from Thriveni Earthmovers.
The Hyderabad bench of NCLT headed by judicial member Ratakonda Murali appointed the companys resolution professional, Savan Godiavala, as liquidator.
Lanco Infratech has consolidated debt of more than Rupee45,000 crore from 29 lenders. It was one of the initial 12 stressed assets that was identified by the Reserve Bank of India for resolution under the Insolvency and Bankruptcy Code.
On July 13, the NCLT had extended the deadline to find a resolution by 16 days to facilitate the committee of creditors to consider Th…
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