Reliance Naval lenders asked not to vote on resolution plan
Resolution professional (RP) Sudip Bhattacharya, backed by Duff and Phelps, has now cancelled voting on a plan scheduled for December 21. The RP has not yet admitted Citi Securities' ₹2,538-crore claim on the bankrupt shipbuilding company.
NCLT rejects GVFL plea against HubtownThe ruling is expected to impact several such investment structures entered into by developers and financiers. GVFL had filed four petitions, claiming that it, as a secured shareholder, was entitled under the shareholder pact to call upon the developer, as the original promoter, to buy back shares at a minimum 26% IRR per annum.
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