{"id":263252,"date":"2019-03-11T05:05:13","date_gmt":"2019-03-11T05:05:13","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=263252"},"modified":"2019-03-11T05:05:13","modified_gmt":"2019-03-11T05:05:13","slug":"nclt-nod-for-icici-bank-plea-to-start-insolvency-process-against-punj-lloyd","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/nclt-nod-for-icici-bank-plea-to-start-insolvency-process-against-punj-lloyd\/","title":{"rendered":"NCLT nod for ICICI Bank plea to start insolvency process against Punj Lloyd"},"content":{"rendered":"<p>In a setback to engineering and construction firm Punj Lloyd, the National Company Law Tribunal (NCLT) has admitted an insolvency plea against the company filed by ICICI Bank.<\/p>\n<p>A two-member Principal Bench headed by President Justice M M Kumar has admitted the lender&#8217;s plea to initiate insolvency proceedings against Punj Lloyd for a default of Rs 853.83 crore. <\/p>\n<p>Confirming the development, Punj Lloyd said in a regulatory filing that the company was waiting for the copy of the full order to provide further details. <\/p>\n<p>&#8220;We hereby inform you that NCLT Principal Bench, New Delhi vide order pronounced on March 8, 2019, has admitted the petition filed by ICICI Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016 in respect of an alleged default amount of Rs 853.83 crore,&#8221; Punj Lloyd said in the filing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a setback to engineering and construction firm Punj Lloyd, the National Company Law Tribunal (NCLT) has admitted an insolvency plea against the company filed by ICICI Bank. A two-member Principal Bench headed by President Justice M M Kumar has admitted the lender&#8217;s plea to initiate insolvency proceedings against Punj Lloyd for a default of Rs 853.83 crore. Confirming the development, Punj Lloyd said in a regulatory filing that the company was waiting for the copy of the full order to provide further details. &#8220;We hereby inform you that NCLT Principal Bench, New Delhi vide order pronounced on March 8, [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,232],"tags":[],"class_list":["post-263252","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-power-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/263252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=263252"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/263252\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=263252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=263252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=263252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}