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Lanco Infratech First from Defaulters List to Face Action
June 28, 2017
Roads and Power company Lanco Infratech has become the first company among other 11 defaulters that were identified by the Reserve Bank of India to face bankruptcy proceedings. IDBI bank that’s leading other banks and has disbursed funds worth Rs. 17,000 crore currently will take the resolution to the insolvency courts to recover the liable assets.
Since the day RBI revealed the names of the top defaulters in light of the increasing NPAs, the stocks of Amtek Auto, Bhushan Steel, and Lanco Infratech has been tumbling, although they were doing very well before the disclosure.
