India: ICICI Bank moves NCLT against Punj Lloyd to initiate insolvency proceedings

India: ICICI Bank moves NCLT against Punj Lloyd to initiate insolvency proceedings

Photo: Reuters

ICICI Bank Ltd on Thursday moved the National Company Law Tribunal (NCLT) against Punj Lloyd Ltd seeking initiation of insolvency proceeding under the Insolvency and Bankruptcy Code (IBC) for recovery of outstanding dues of Rs852 crore.

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