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SBI to Bring 5 Kolkata-Based Companies before NCLT
March 14, 2018
In a bid to initiate insolvency proceedings involving Rs. 3,250 crores with a hope for justice, Public sector State Bank of India (SBI) is planning to drag as many as five Kolkata-companies including Burnpur Cement and four companies of the Patni group to the National Company Law Tribunal (NCLT).
According to sources, the Patni group entities Impex Ferro Tech, Impex Metal & Ferro Alloys, Ankit Metal & Power, and Rohit Ferro Tech, alone have defaulted for more than Rs. 3,000 crores in loans.
