India: NCLT admits insolvency proceedings against Lanco Infratech

India: NCLT admits insolvency proceedings against Lanco Infratech

On 10 August, Lanco Infratech said a consortium of nine lenders had decided to invoke RBI’s SDR route and had chosen to convert a majority of their debt into equity in Lanco Teesta. Photo: Mint

The National Company Law Tribunal (NCLT) has admitted insolvency proceedings against Lanco Infratech Ltd, among the 12 identified cases referred to the tribunal following the Reserve Bank of India’s 13 June directive, the company said in a stock exchange filing on Thursday.

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