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.
