 "bankruptcy code")
National Company Law Tribunal's (NCLT's) Hyderabad-bench has appointed the interim resolution professional (IRP) for Lanco Infratech Limited (LITL) based on an application filed by IDBI Bank.
The bank moved the insolvency petition against LITL last month after the Reserve Bank of India (RBI) identified a dozen large corporate debtors, including Lanco, for initiating bankruptcy proceedings against them on a priority basis.
With a combined debt of over Rs 44,000 crore, Lanco Infratech, which is a holding company for a large number of power and infrastructure project subsidiaries, had accepted the move.
However, the company requested the NCLT bench, as it had requested the
