LANCO INFRATECH LTD. - Announcement Under Regulation 30 (LODR) - Updates - 20.08.2018
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| 20 Aug 2018 | |
| In continuation to the Letter of intimation to Stock Exchanges dated July 30, 2018 in respect of application for liquidation under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, filed by Resolution Professional ('RP') with Hon''ble National Company Law Tribunal ('NCLT'), Hyderabad Bench on July 27, 2018, it is hereby informed that the Hon''ble NCLT, Hyderabad Bench heard the application on August 14, 2018 seeking liquidation of the Company and the Application filed by Employee Welfare Association seeking reasons from the RP as to why the Resolution Plan was rejected. <BR> <BR> The bench heard the arguments of both the parties and posted the matter for pronouncement of Orders on the Liquidation Application on August 27, 2018.<BR> <BR> Further, the Hon''ble NCLT, Hyderabad Bench also took up the Application of M/s. Power Mech Projects Limited, a potential bidder which had submitted an Expression of Interest. This Application has been posted for further hearing on August 23, 2018.<BR> <BR> The copy of the NCLT Order is enclosed for your reference.<BR> <BR> This is for your information and record. | |
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