MoneyWorks4Me

Lanco Infratech confirms RBI order on insolvency process: Report

19 Jun 2017 Evaluate

Lanco Infratech reportedly confirmed that Reserve Bank of India (RBI) had directed the company's lead lender IDBI Bank to initiate a corporate insolvency resolution process under the country's bankruptcy laws.  Lanco is among 12 companies that the central bank has ordered lenders to take to bankruptcy court as it strives to cut the country's $150 billion in soured debt.

Lanco Infratech is the leading integrated infrastructure conglomerate with global footprints having business verticals viz. EPC, Power, Solar, Natural Resources and Infrastructure.

Peers
Company Name CMP
Larsen & Toubro 3654.10
Kalpataru Projects 1344.15
NCC 127.60
Rail Vikas Nigam 194.50
KEC International 343.35
View more..