Trouble mounts for McLeod Russel as National Company Law Tribunal (NCLT) paves way for bankruptcy proceedings against the tea grower after a financial creditor moved an application against the company claiming the company has defaulted on Rs 100 crore dues owed to it. McLeod on Friday informed the bourses that NCLT Delhi admitted the application filed by Techno Electric & Engineering Company Limited against it under the Insolvency and Bankruptcy Code, 2016 (IBC).
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