GTL Infrastructure moves HC against action under Bankruptcy Code
According to the petitioner, in February, Edelweiss Asset Reconstruction Company (EARC) jointly with the Bank of Merrill Lynch offered an initial bid of Rs 2,000 crore on a full cash basis against the outstanding dues of all the lenders including Canara Bank and UBI.
GTL Infrastructure, which owes over Rs 4,000 crore as loans to a consortium of banks led by Union Bank of India, Image source:Youtube