{"id":276338,"date":"2019-05-28T06:41:50","date_gmt":"2019-05-28T06:41:50","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=276338"},"modified":"2019-05-28T06:47:22","modified_gmt":"2019-05-28T06:47:22","slug":"nclt-dismisses-icici-insolvency-plea-against-hyderabad-ring-road-projects","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/nclt-dismisses-icici-insolvency-plea-against-hyderabad-ring-road-projects\/","title":{"rendered":"NCLT dismisses ICICI insolvency plea against Hyderabad Ring Road Projects"},"content":{"rendered":"<p>The National Company Law Tribunal (NCLT) has dismissed an insolvency plea filed by ICICI Bank against Hyderabad Ring Road Projects, observing that there was &#8220;duplicacy of the claims&#8221; of the private lender.<\/p>\n<p>A two-member bench headed by President Justice M M Kumar said ICICI Bank has already raised the similar claims against its corporate guarantor Era Infra Engineering, which is currently going through Corporate Insolvency Resolution Process (CIRP).<\/p>\n<p>&#8220;Therefore, on account of duplicacy of the claims the petition can not be entertained,&#8221; said NCLT bench, adding &#8220;this petition fails and the same is dismissed&#8221;.<\/p>\n<p>Hyderabad Ring Road Projects Private Ltd, is a special purpose vehicle related to Era Infra Engineering Ltd and raised an amount of Rs 193.60 crore between January 2014 to September 2015.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The National Company Law Tribunal (NCLT) has dismissed an insolvency plea filed by ICICI Bank against Hyderabad Ring Road Projects, observing that there was &#8220;duplicacy of the claims&#8221; of the private lender. A two-member bench headed by President Justice M M Kumar said ICICI Bank has already raised the similar claims against its corporate guarantor Era Infra Engineering, which is currently going through Corporate Insolvency Resolution Process (CIRP). &#8220;Therefore, on account of duplicacy of the claims the petition can not be entertained,&#8221; said NCLT bench, adding &#8220;this petition fails and the same is dismissed&#8221;. Hyderabad Ring Road Projects Private Ltd, [&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":[130,213,144],"tags":[],"class_list":["post-276338","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-roads-the-pioneer","category-the-pioneer"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/276338","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=276338"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/276338\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=276338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=276338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=276338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}