CIL hits back at Gulf Oil Lubricants for dragging its subsidiary to NCLT

Gulf Oil Lubricants stated that Rs 4.09 million is still pending from CIL, which the latter has denied

After After obtaining a stay order from the National Company Law Appellate Tribunal (NCLAT) over initiation of insolvency proceedings against its subsidiary - Eastern Coalfields (ECL) – the mother company, Coal India, hit back at Gulf Oil Lubricants India, alleging the latter didn’t follow the grievance redress mechanism and instead took a “hasty decision” to move court.

On December 19, after hearing a petition from Gulf Oil Lubricants for recovery of an alleged amount of Rs  4.09 million, the Kolkata Bench of the National Company Law Tribunal (NCLT) had ordered commencement of insolvency proceedings against ECL and appointed Chhedi Rajbhar