The National Company Law Tribunal’s Allahabad bench has listed the State Bank of India petition against Bajaj Hindusthan Sugars for December 7.
In an order dated September 14, the NCLT asked Bajaj Hindusthan to file a reply to the SBI petition in three weeks. The lender was given another two weeks to file its rejoinder to Bajaj Hindusthan’s reply.
Bajaj Hindusthan was sent to NCLT for debt resolution by SBI after the company failed to repay its loans.
The company had received two debt restructurings from the lender, but failed to meet the requirements of the schemes.
Source: Business-Standard