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SBI gets NCLT nod for insolvency process against Alok Industries

Bombay HC is set to hear the ongoing liquidation case against Alok Industries on July 19

Vinay Umarji  |  Ahmedabad 

SBI gets NCLT nod for insolvency process against Alok Industries

The Bench of the (NCLT) on Tuesday admitted the State Bank of India’s (SBI’s) application for initiating against player The Bench, chaired by Justice Bikki Raveendra Babu, also ordered the appointment of as interim resolution professional (IRP) for coming up with a workable solution for

The also dismissed the Industrial and Commerce Bank of China’s (ICBC’s) plea seeking the dismissal or deferment of against on grounds of ongoing litigation in the Bombay High Court.  ICBC had filed a litigation in the for initiating the winding up process of through its credit facility agency HSBC. The is set to hear the ongoing case against on July 19. 

First Published: Wed, July 19 2017. 00:28 IST
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