New Delhi, Jan. 16 -- A Gujarat-based company has been proposed as a new investor to support the employees' association of the beleaguered Reid and Taylor after a Hong Kong group failed to honour its commitment for depositing its promised earnest deposit money before the National Company Law Tribunal (NCLT) here on Tuesday.
The NCLT has asked the CFM Asset Reconstruction Pvt Ltd (CFMARPL), Gujarat, to deposit Rs 2 crore within 48 hours and another Rs 3 crore with the resolution professional, and posted the matter for further hearing on January 17.
The NCLT has assured that after they provide the initial amount (Rs 2 crore), the resolution professional would be directed to provide the necessary documents of the company to enable them (CFMA...