July 12, 2017:
The National Company Law Tribunal on Wednesday adjourned State Bank of India’s insolvency plea against Monnet Ispat & Energy to Thursday.
Monnet’s counsel had sought a copy of the revised petition by SBI. The lead banker to the company had earlier claimed ₹1,500 crore as outstanding loan, but later revised it to ₹2,200 crore.
Monnet Ispat is among the 12 accounts against which banks have initiated insolvency proceedings following an RBI directive.
(This article was published on July 12, 2017)
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