The National Company Law Tribunal (NCLT), Chennai, has ordered liquidation of the city-based power transmission components manufacturer, Easun Reyrolle, after the lenders received no successful resolution plan.
While the State Bank of India claims the company owes it ₹205 crore, Canara Bank claims another ₹59.31 crore. The two banks had proceeded against the company at the NCLT, which admitted their pleas. The committee of lenders rejected a resolution bid by Syed Fahad and Greenergy Wind Corporation Ltd and passed a resolution for the liquidation of Easun Reyrolle.
Mahalingam Suresh Kumar has been appointed the liquidator, the order said.