The National Company Law Appeal Tribunal (NCLAT) has suspended insolvency proceedings against India’s third-largest IT services provider HCL Technologies. The National Company Law Tribunal (NCLT) has commenced insolvency proceedings against the company on January 17, 2022.
Suspension order has been received after C Vijayakumar, MD & CEO filed application with NCLAT. A senior spokesman said only that a stay order for bankruptcy proceedings had been obtained. A copy of the NCLAT order has been seen by Business Standard.
“The company has appealed to the Hon’ble National Company Law Appellate Tribunal (NCLAT), which upheld the aforementioned NCLT order,” a spokesman for HCL Tech said.
Complete News Source : Business Standard
