The National Company Law Appellate Tribunal (NCLAT) has accepted the plea filed by State Bank of India (SBI) against the resolution process of Lavasa Corporation Limited. Lavasa is a real estate subsidiary of Hindustan Construction Company Limited (HCCL).
The National Company Law Appellate Tribunal (NCLAT) has ordered a status quo on Sarda Energy & Minerals Ltd (SEML)’s bid to take over SKS Power Ltd responding to the company’s plea against a lower court’s order which had asked lenders to reconsider their decision to declare SEML as the winning bidder. The next date of hearing is November 24.
Creditors of Jet Airways raise concerns over the source of funds deposited by the Jalan-Kalrock Consortium, which do not align with the resolution plan. Additional Solicitor General N Venkataraman questions the possibility of money laundering. Lenders request time to file a reply. Consortium representative alleges lenders refuse Jet’s ownership transfer.
