NCLT admits insolvency resolution petition against Mumbai-based developer Nirmal Lifestyle
The Mumbai bench of the National Company Law Tribunal (NCLT) has admitted the company under the Corporate Insolvency Resolution Process (CIRP) based on a petition filed by IDBI Trusteeship Services, on behalf of Altico Capital, after the company defaulted on its dues worth Rs 286 crore.
Took conservative approach while phasing out NPAs: VP Nandakumar, Manappuram Finance"In microfinance we have provided adequately and we have been very conservative with the write off after 180 days."
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