Logo


Bar Liberty House from any resolution process: Amtek Auto CoC

Amtek Auto lenders also wanted to invoke Section 60 (5) of IBC Act against Liberty House as the company failed to make payments according to the resolution plan approved by the tribunal

Amtek Auto
The creditors also plan to file a civil suit before an appropriate court seeking damages from Liberty House

The Committee of Creditors (CoC) of Amtek Auto have sought to bar Liberty House from bidding for any insolvent company. In their application seeking to invoke section 74 of Insolvency and Bankruptcy Act (IBC) against Liberty House in National Company Law Tribunal (NCLT), Chandigarh, CoC has said that there is “lack of bonafide” intent on part of the company to follow the terms of resolution plans approved by the adjudicating authority. Amtek Auto lenders also wanted to invoke Section 60 (5) of IBC Act against Liberty House as the company failed to make payments ...