Gas-sector giant state-run GAIL India has been given operational creditor status by the Ahmedabad Bench of the National Company Law Tribunal (NCLT) on Wednesday with regards to the resolution process of textiles player Alok Industries.
However, the adjudicating authority Justice Harihar Prakash Chaturvedi noted that while GAIL India will be treated as an OC on par with its status in other cases including the Essar Steel one, the tribunal did not go into the merit of its claims for dues worth `506 crore.
Under the resolution plan for the company that has been submitted by Reliance Industries Ltd (RIL) in partnership with JM Financial Asset Reconstruction Company, GAIL’s `506 crore claim has not been considered.
