The National Company Law Tribunal has admitted Katra Realtors into corporate insolvency resolution. This follows an application by IL&FS Financial Services, as Katra Realtors was a corporate guarantor for Ansal API, which is also undergoing insolvency. The tribunal noted that proceedings can be initiated against both the principal borrower and the guarantor simultaneously.
Bankruptcy court admits Ansal API affiliate under insolvency resolution process
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