CoC of Lanco Infratech rejects the revised resolution plan of TEPL

Hyderabad bench of NCLT has directed the CoC to take a view on the modified plan while extending the time of resolution period by 16 days to facilitate for the same on July 13

Committee of Creditors (CoC) of debt-laden Lanco Infratech Limited has rejected the revised resolution plan of Tamil Nadu-based Thriveni Earth Movers Limited (TEPL). 

The committee has examined the revised plan after the adjudicating authority, the Hyderabad bench of National Company Law Tribunal (NCLT), directed the CoC to take a view on the modified plan while extending the time of resolution period by 16 days to facilitate for the same on July 13.  

It may be recalled that the CoC had refused to examine this revised plan submitted on May 3, a day before the expiry of 270-day resolution period, stating