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Lenders to insolvent SBQ Steels prefer to take the liquidation route

Express reservation over Liberty's capability to take process ahead

2 years after notes ban, cash still king at petrol pumps, rail stations
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Lenders to insolvent SBQ Steels have preferred to take the liquidation route for the entity, expressing reservations over UK-based Liberty House’s capability to take the process ahead, sources close to the development said.   The resolution professional (RP) has filed an application under Section-33 of the Code of Liquidation, before the Chennai Bench of the National Company Law Tribunal (NCLT), the insolvent entity said in a notification to stakeholders. “The Corporate Insolvency Resolution Process of SBQ Steels ended on November 13,” it said.   Edelweiss ...