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The Economic Times

Personal Finance / The Economic Times

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NCLAT upholds NCLT order on distribution of funds from a resolution plan

The National Company Law Appellate Tribunal has rejected a plea from five banks. They challenged fund distribution to SBI and Punjab National Bank. The tribunal upheld the distribution mechanism. This mechanism was approved by the lenders' body and the NCLT. The case involves OCL Iron and Steel insolvency proceedings. Indrani Patnaik's resolution plan was approved.

8 Apr 2026 10:49 pm