The Ahmedabad bench of the National Company Law Tribunal (NCLT) on Wednesday accepted Gail India Ltd’s plea to be treated as operational creditor in the textile player Alok Industries’ insolvency matter.
However, while passing the order on Wednesday, the two-member bench consisting of adjudicating authorities Harihar Prakash Chaturvedi and Manorama Kumari said that while Gail India would be treated as an OC on par with its status in other cases, such as Essar Steel, the tribunal did not go into the merit of its claims for dues worth Rs 506 crore.
In its plea before the NCLT Ahmedabad bench, Gail India had stated that the resolution professional (RP) appointed for Alok Industries had rejected its status as an operational creditor (OC) and ignored its claims for dues worth Rs 506 crore.
