State Bank of India (SBI) has initiated Corporate Insolvency Resolution Process (CIRP) against IVRCL under Insolvency and Bankruptcy Code 2016 and filed an application under regulation 7 of the Insolvency and Bankruptcy Code with the National Company Law Tribunal (NCLT). The hearing on the application was held on January 8, 2018 and the orders were reserved.
IVRCL is engaged in the business of development and execution of engineering, procurement, construction and commissioning (EPCC) and lump sum turnkey (LSTK) facilities in various Infrastructure projects.
