New Delhi: The National Company Law Tribunal (NCLT) has rejected ICICI Bank’s plea to initiate insolvency proceedings against Era Infrastructure (India) Ltd on the grounds of “duplicacy” of claims. A two-member bench observed that ICICI Bank has already raised similar claims against its parent company Era Infra Engineering, which is currently undergoing resolution process. The tribunal held that “on account of duplicacy” of the claims, the petition filed by ICICI Bank “can not be entertained”.
Meanwhile, National Company Law Appellate Tribunal (NCLAT) has dismissed a plea for initiation of insolvency proceedings against SpiceJet by Ramco Systems Ltd, operational creditor of the low-cost carrier. The appellate tribunal said there was nothing on record to suggest that the demand notice relating to invoices issued by Ramco System was forwarded or received by SpiceJet.
