NCLT allows ICICI Bank's Rs 7-bn claim in Era Infra insolvency case

The infrastructure firm owes its lenders nearly Rs 100 bn in total

The Principal Bench of the National Company Law Tribunal (NCLT) on Thursday directed the resolution professional (RP) of Era Infrastructure India to admit ICICI Bank's Rs 7-billion claim, which had been earlier denied by him. The tribunal has also directed the RP to grant ICICI Bank a proportional voting share in the committee of creditors (CoC).    

ICICI Bank had given a loan of Rs 2.4 billion to Era Infrastructure India and Rs 4.6 billion to Dehradun Highway Projects and was liable to get a repayment from the corporate debtor according to the terms of the agreement between the