Sekhar Movva, president at Synergies Dooray Automotive. Edelweiss Asset Reconstruction Co. Ltd is readying to approach the National Company Law Appellate Tribunal (NCLAT) in the case of Synergies Dooray Automotive Ltd, two people with direct knowledge of the matter said, requesting anonymity. The resolution involves merging Synergies Dooray with Synergies Castings Ltd, a creditor and so-called related party. However, Edelweiss ARC has alleged that only the Synergies Castings plan was considered, said one of the people cited earlier. Sekhar Movva, president at Synergies Dooray, said that NCLAT will see merit in the NCLT order.

Source: Mint August 20, 2017 18:45 UTC