Shah Group Builders: NCLT admits insolvency plea against Shah Builders
Canara Bank had moved the bankruptcy court against the developer in 2020 following its default on loans worth nearly ₹100 crore including interest thereon. The account was declared a non-performing (NPA) in December 2016. The tribunal has appointed Srigini Rajat Naidu as the resolution professional to undertake insolvency proceedings against the developer.
Source: indiatimes.com