Anand Rathi bullish on this stock, sees over 35% upside
The stock ended 3.07 per cent higher at Rs 251.90 against the previous close of Rs 244.40.
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The stock ended 3.07 per cent higher at Rs 251.90 against the previous close of Rs 244.40.
After the promoters of McLeod reach a settlement with a financial creditor, Techno Electric & Engineering, the company could be out of National Company Law Tribunal's insolvency process.
The disclosure to the bourses on Friday indicates that the bank consortium is willing to look beyond the scope of the IBC to recover its dues
It argued that the NCLT had erred in admitting Techno Electric’s petition while contending that there had been no default in the repayment of a Rs 100 crore loan
The bankruptcy proceedings were initiated by construction company Techno Electric and Engineering Company in 2019 over a default on interest payments towards a Rs 100-crore loan, according to a court order reviewed by ET.