NCLT directs changes to the resolution plan submitted by JNPT
The National Company Law Tribunal (NCLT) order directing modification to the resolution plan submitted by Jawaharlal Nehru Port Trust (JNPT) for the debt-laden Dighi Port Ltd could spell trouble for the ₹853.28-crore deal that was approved by the lenders’ panel and ratified by the insolvency court in Mumbai on May 8.
The NCLT direction pertains to sub-lease deeds and sub-concession agreement signed between Dighi Port and the Veritas...