NCLT orders liquidation for Lanco Babandh
MUMBAI: The National Company Law Tribunal has ordered the liquidation of Lanco Babandh Power, which means lenders stand to lose much of the more than Rs 8,000 crore of overdue from the thermal power producer.
The bankruptcy court removed the resolution professional for the Lanco group company, and appointed a liquidator from AAA Insolvency Professionals to sell off the assets.
