Gujarat NRE Coke is one of the companies affected by the recent ordinance which bars promoters from bidding for stressed assets unless they repay the interest and principal amount. In an advertorial that appeared in The Economic Times on Tuesday, Jagatramka has sought more accountability from bankers for their actions in the insolvency proceedings. Jagatramka also alleged that a company is forced into liquidation due to the indecisiveness of bankers or due to their commercially wrong decision. Gujarat NRE Coke is one of the companies affected by the recent ordinance which bars promoters from bidding for stressed assets unless they repay the interest and principal amount. Workers of the company have filed an affidavit with the Supreme Court to reconsider their resolution plan which could not be taken up due to paucity of time.

Source: Mint January 16, 2018 07:07 UTC