JM Financial Asset Reconstruction Company allowed to substitute Bank of India as petitioner

BSE-listed National Steel & Agro owes about Rs 1,600 crore to its lenders. On Friday, the Mumbai bench of the National Company Law Tribunal, presided over by Justice Pradeep Narhari Deshmukh, allowed the substitution of JM Financial ARC, to whom the lenders have assigned their debt as petitioner in an oral order and have posted the hearing of the matter to March 9.

from Banking/Finance-Industry-Economic Times https://ift.tt/3u8H9J1