Tuesday, 20 June 2017
Banks agree to initiate corporate insolvency proceeding on Monnet Ispat
MUMBAI: Bankers and metals maker Monnet Ispat & Energy agreed on Tuesday to reorganise the company under the Insolvency and Bankruptcy Code after it defaulted on its Rs. 12,000 crore even as its equity valuation remained less than a 12th of its total obligations to banks.
You can read more here: Banks agree to initiate corporate insolvency proceeding on Monnet Ispat
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