15
Jul
15:58
Court orders liquidation of Adhunik Metaliks
The National Company Law Tribunal (NCLT) has ordered the liquidation of Adhunik Metaliks after Liberty House failed to implement its Resolution Plan accepted by creditors last year.
The court ruled that Liberty failed to make the required upfront cash payment of INR 410 crore ($53 million) within 57 days of approval of the Resolution Plan. They also failed to make the payment within a 30-day extension period granted to them by NCLAT, according to court docu…
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Very good overview of the weekly steel market.
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