National Company Law Appellate Tribunal (NCLAT) had ordered that a former bank official cannot be appointed as a resolution professional (RP) in a company facing bankruptcy
The steel major has contended that the resolution plan submitted by it was ex facie a better resolution plan selected by the CoC.
The slowdown, however, is unlikely to impact the credit profiles of the EPC players primarily because of three reasons
EPC Constructions had defaulted on its loans worth Rs 7,200 crore and has been an NPA since December 2014