Appellate tribunal NCLAT has rejected SBI’s pleas opposing the liquidation value of ITPCL provided by the debt-ridden firm’s lead banker PNB and said the country’s largest lender cannot “wriggle out” the debt restructuring process of the IL&FS group’s thermal power company.
The National Company Law Appellate Tribunal (NCLAT) has dismissed all three applications moved by SBI and said it does “not find any error in fixing the liquidation value as of 30.09.2018” of IL&FS Tamil Nadu Power Company Ltd (ITPCL).
