Brief: Punj Lloyd Says Co Believes ICICI Bank's NCLT Application May Not Be Admitted

Punj Lloyd

14/06/2018 12:01

June 14 (Reuters) - Punj Lloyd Ltd  PUJL.NS :
    * SAYS ICICI BANK FILED APPLICATION BEFORE NCLT UNDER
INSOLVENCY
AND BANKRUPTCY CODE
    * PUNJ LLOYD -IN MEETING OF CO'S LENDERS,OVER 90 PERCENT OF
LENDERS AGREED TO SUPPORT RESOLUTION PLAN UNDER LEADERSHIP OF
SBI FOR RESTRUCTURING CO'S DEBTS
    * IT WAS ALSO DECIDED THAT SBI ON BEHALF OF ALL LENDERS
SHALL
OPPOSE ICICI APPLICATION AT NCL T
    * CO IS OF VIEW THAT ICICI BANK'S APPLICATION MAY NOT BE
ADMITTED
BY NCLT SINCE OVER 90 PERCENT OF LENDERS ARE IN FAVOR OF DEBT
RESTRUCTURINGS
    * TRIBUNAL DIRECTED CO, SBI TO FILE REPLY/APPLICATION IN
NEXT
HEARING ON JULY 24

Source text - http://bit.ly/2JAZ5po
Further company coverage:  PUJL.NS 

 ((Reuters.Briefs@thomsonreuters.com;))