The National Company Law Appellate Tribunal had given 30 days to Liberty to make an upfront payment of Rs 410 crore to the lenders. MSTC, a central public sector trading company, was listed as an operational creditor of Adhunik, having a claim of Rs 108.36 crore. The UK company is paying Rs 30 crore against a combined claim of Rs 273.27 crore by the operational creditors. However, lenders appear to be in no mood to heed Liberty’s case, as they feel there could be many takers for Adhunik. Incidentally, the CoC of Adhunik Metaliks, too, had filed a similar application before the NCLT when the matter was being heard at the Calcutta bench.

Source: The Telegraph April 30, 2019 19:18 UTC