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Suspended board of Jaiprakash Associates moves NCLAT, challenges insolvency proceedings
Credit: IndiaTimes- Published on June 10, 2024
The suspended board of Jaiprakash Associates has appealed to the NCLAT against the NCLT's order to initiate insolvency proceedings. ICICI Bank's insolvency plea was admitted in June, with Bhuvan Madan appointed as Interim Resolution Professional. The NCLT rejected JAL's plea, citing debt default and dismissed arguments regarding...