Debt

Debt financing

NCLAT tells lenders to consider Finquest's new plan for Ballarpur Industries

Economic Times  

The National Company Law Appellate Tribunal (NCLAT), the appellate bankruptcy court, has overturned a liquidation order passed by the Mumbai bench of the National Company Law Tribunal (NCLT) against Avantha group-promoted Ballarpur Industries, and directed its creditors to consider an improved resolution plan submitted by Finquest Financial Solutions. The NCLT on January 25 had ordered liquidation after the company's committee of creditors (CoC) rejected an INR 590-crore offer from Finquest.