JSW Group chairman Sajjan Jindal on Tuesday questioned the finance ministry on discriminating against clean promoters of NCLT cases by not allowing them to bid for their own assets when promoters of non-NCLT cases are allowed to retain their positions while a resolution plan is being worked out for their companies.
“Existing promoters are allowed to be in management in non-NCLT cases with deep debt restructuring involving large haircuts if they are not wilful & non-cooperative borrowers. If so, why to differentiate in #NCLT cases to debar legitimate promoters in bidding process? @arunjaitley,” said Jindal who has earlier crusaded against allowing “dubious promoters” to bid for their own distressed assets in the insolvency re…
Read the full article at: https://economictimes.indiatimes.com/news/economy/policy/why-discriminate-against-clean-promoters-of-nclt-cases-sajjan-jindal/articleshow/62039226.cms