The case involves a Corporate Insolvency Resolution Process (CIRP) application filed by Canara Bank against NSL Sugars Limited. During the pendency of the application, NSL Sugars Limited complied with the terms of a restructuring proposal sanctioned by Canara Bank and obtained approvals from other members of the Consortium of Bankers for restructuring their respective exposures.
Canara Bank filed a CIRP application against NSL Sugars Limited. During the pendency of the CIRP application, NSL Sugars Limited complied with the terms of a restructuring proposal sanctioned by Canara Bank. NSL Sugars Limited also obtained approvals from other members of the Consortium of Bankers for restructuring their respective exposures. Canara Bank then filed a memo seeking to withdraw the CIRP application. The restructuring was sanctioned on 2020-06-11. The court took the memo on record.
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Restructuring…
Learned Counsel appearing for the…
The case involves a Corporate Insolvency Resolution Process (CIRP) application filed by Canara Bank against NSL Sugars Limited. During the pendency of the application, NSL Sugars Limited complied with the terms of a restructuring proposal sanctioned by Canara Bank and obtained approvals from other members of the Consortium of Bankers for restructuring their respective exposures.
Canara Bank filed a CIRP application against NSL Sugars Limited. During the pendency of the CIRP application, NSL Sugars Limited complied with the terms of a restructuring proposal sanctioned by Canara Bank. NSL Sugars Limited also obtained approvals from other members of the Consortium of Bankers for restructuring their respective exposures. Canara Bank then filed a memo seeking to withdraw the CIRP application. The restructuring was sanctioned on 2020-06-11. The court took the memo on record.
Restructuring…
Learned Counsel appearing for the…