Tribunal reserves order on Era Infra insolvency case – The Indian Express

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The principal bench of the National Company Law Tribunal (NCLT) in New Delhi on Tuesday reserved its order on whether the insolvency proceedings against Era Infra Engineering are maintainable. This is because there are several winding-up petitions against the company pending before the Delhi High Court.

Union Bank of India has filed an insolvency petition against the company. In a recent observation in the State Bank of India versus Alok Industries case, the NCLT bench in Ahmedabad had noted that since winding-up petitions had not been admitted, the Insolvency…

Read the full article at: http://indianexpress.com/article/business/companies/tribunal-reserves-order-on-era-infra-insolvency-case-4767170/