{"id":579450,"date":"2023-05-26T10:21:12","date_gmt":"2023-05-26T04:51:12","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=579450"},"modified":"2023-05-26T11:14:34","modified_gmt":"2023-05-26T05:44:34","slug":"ilabs-taken-to-nclt-for-reneging-on-lanco-deal","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ilabs-taken-to-nclt-for-reneging-on-lanco-deal\/","title":{"rendered":"iLabs taken to NCLT for reneging on Lanco deal"},"content":{"rendered":"<p>Lenders to the defunct Lanco Group have taken Hyderabad-based iLabs Group to court, claiming that the company has refused to part with the 29% stake it holds in Lanco Anpara Thermal Power to the power plant&#8217;s winning bidder, Megha Engineering &amp; Infrastructures.<\/p>\n<p>ILabs held charge over 29% shares of Lanco Anpara after its purchase of Lanco Thermal Ltd. According to the agreement with lenders, it was supposed to transfer that 29% to the winning bidder of Lanco Anpara on payment of \u20b925 crore. This was also mentioned in the National Company Law Tribunal (NCLT) order when iLabs took over Lanco Thermal.<\/p>\n<p>Last June, lenders voted in favour of Megha Engineering to takeover Lanco Anpara for a total consideration of \u20b9855 crore.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lenders to the defunct Lanco Group have taken Hyderabad-based iLabs Group to court, claiming that the company has refused to part with the 29% stake it holds in Lanco Anpara Thermal Power to the power plant&#8217;s winning bidder, Megha Engineering &amp; Infrastructures. ILabs held charge over 29% shares of Lanco Anpara after its purchase of Lanco Thermal Ltd. According to the agreement with lenders, it was supposed to transfer that 29% to the winning bidder of Lanco Anpara on payment of \u20b925 crore. This was also mentioned in the National Company Law Tribunal (NCLT) order when iLabs took over Lanco [&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":[130,239,136],"tags":[],"class_list":["post-579450","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/579450","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=579450"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/579450\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=579450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=579450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=579450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}