In 2018, ICICI Bank initiated insolvency proceedings against Punj Lloyd after the company defaulted on a ₹854 crore loan. On Monday, the National Company Law Tribunal (NCLT) provided the liquidator additional time until July 23 to complete the company’s liquidation. The NCLT specified that, if necessary, the liquidator could submit a fresh application after July 23 to request further extension
The National Company Law Tribunal (NCLT) has allowed ICICI Prudential Venture Capital to withdraw the insolvency proceeding against Anand Divine Developers, a subsidiary of ATS Infrastructure, on Wednesday, May 25 2022. The decision will end the uncertainty for hundreds of homebuyers who were adversely affected due to this legal process. National Company Law Appellate Tribunal (NCLAT) had stayed the insolvency
