The NCLAT on Wednesday declined to entertain pleas by three Chinese companies to direct the liquidator of Lanco Infratech to stay invocation of their performance bank guarantees (PBGs).
A two-member National Company Law Appellate Tribunal (NCLAT) bench headed by Chairperson Justice S J Mukhopadhaya asked the three companies to approach the liquidator and file their claims if any amount has been received by Lanco Infratech after invocation of PBGs submitted by them.
“This Appellate Tribunal is not inclined to decide the claim and counter claim as made by the parties, but give liberty to the appellants to move before the appropriate forum for appropriate relief,” the NCLAT said.
