Bank of Baroda takes Gayatri Projects to NCLT over unpaid dues

Bank of Baroda has approached a bankruptcy court for recovery of its dues to Gayatri Projects, promoted by former Rajya Sabha MP T Subbarami Reddy. The company owes about INR 6,000 crore to various banks with Bank of Baroda's exposure being nearly a quarter of the total loans. The company has appointed EY to advise it on the debt restructuring proposal.