Energy sees some big-ticket filings under new insolvency law

Energy sees some big-ticket filings under new insolvency law
In the first six months after notification of the Insolvency and Bankruptcy Code, a number of big-ticket filings were made from the energy sector at the National Company Law Tribunal (NCLT).

Last month saw insolvency filings worth Rs 10,000 crore from the sector. One of these being Kolkata-based steel company Ramsarup Industries, which has a principal debt of Rs 2,000 crore.

Others in the segment that have gone the insolvency route are Uttam Galva Steel, Gujarat NRE Coke, Marmagoa Steel and Facor Steel. Gujarat NRE Coke, listed on the National Stock Exchange, owes Rs 3,880 crore. Read More…
Credit By: Business Standard

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