Articles for tag: BKEL, Crore, Debts, Distribution, Dramatic, Financial, Interim, Lenders, NCLAT, Orders, Rising, Sparking, Tensions

NCLAT orders 75% interim distribution of Rs 175 crore for BKEL lenders, sparking dramatic financial tensions amid rising debts.

The National Company Law Appellate Tribunal (NCLAT) has ordered the interim distribution of 75 percent of the escrow funds, totaling Rs 175 crore, held by Baleshwar Kharagpur Expressway Limited (BKEL) to its secured lenders. This ruling came after a request from the State Bank of India (SBI), as BKEL, which has not serviced its loans ...