{"id":308928,"date":"2020-01-06T11:09:08","date_gmt":"2020-01-06T05:39:08","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=308928"},"modified":"2020-01-06T11:29:44","modified_gmt":"2020-01-06T05:59:44","slug":"sc-stays-order-allowing-mbl-infra-promoter-to-take-over-ailing-co","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/sc-stays-order-allowing-mbl-infra-promoter-to-take-over-ailing-co\/","title":{"rendered":"SC stays order allowing MBL Infra promoter to take over ailing co"},"content":{"rendered":"<p>NEW DELHI: The Supreme Court has stayed an NCLAT order allowing Anjanee Kumar Lakhotia, the promoter of ailing MBL Infrastructure, to take over the company under a resolution plan submitted under the Insolvency Code despite a specific bar against it in the law.<\/p>\n<p>The top court will now examine the issue on February 2, 2020.<\/p>\n<p>Acting on a plea by banks led by Bank of Baroda, IDBI and SBI, a bench comprising Justices Arun Mishra and Surya Kant stayed the NCLAT order of August 16, 2019, dismissing an appeal against the Kolkata NCLT decision to allow such a resolution plan to go through.<\/p>\n<p>RBL bank had initiated the corporate insolvency resolution process against the company in 2017. The COC eventually cleared a resolution plan submitted by Lakhotia with a 78% vote.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: The Supreme Court has stayed an NCLAT order allowing Anjanee Kumar Lakhotia, the promoter of ailing MBL Infrastructure, to take over the company under a resolution plan submitted under the Insolvency Code despite a specific bar against it in the law. The top court will now examine the issue on February 2, 2020. Acting on a plea by banks led by Bank of Baroda, IDBI and SBI, a bench comprising Justices Arun Mishra and Surya Kant stayed the NCLAT order of August 16, 2019, dismissing an appeal against the Kolkata NCLT decision to allow such a resolution plan [&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":[130,193,136],"tags":[],"class_list":["post-308928","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-roads-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/308928","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=308928"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/308928\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=308928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=308928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=308928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}