Logistics

NCLAT asks CoC to approve resolution plan for Dighi Port

PTI New Delhi | Updated on August 23, 2019 Published on August 23, 2019

File Photo of Dighi Port.   -  Special Arrangement

The National Company Law Appellate Tribunal (NCLAT) has asked the Committee of Creditors of Dighi Port Ltd to approve a resolution plan for the debt-ridden firm within three weeks.

A two-member NCLAT Bench, headed by Chairperson Justice SJ Mukhopadhaya, also directed the Committee of Creditors (CoC) to evaluate the proposal submitted by its promoters. “While approving so, the CoC will consider as to whether the plan as may be approved is better than the proposal as given by the promoters/appellant, taking into consideration the viability and feasibility and financial matrix of all resolution plans,” the NCLAT said.

“It is accepted that the matter will be decided within three weeks,” it added.

Published on August 23, 2019
This article is closed for comments.
Please Email the Editor