NCLAT reserves order on Appu Hotels take over bid case
The Hindu
Post hearing the parties, NCLAT has now reserved its judgment, while allowing parties to make additional submissions, according to sources.
The National Company Law Appellate Tribunal (NCLAT), Chennai, has reserved judgment on appeals filed against the nod given for MGM Healthcare managing director M. K. Rajagopalan’s , which owns and operates Le Meridien in Chennai and Coimbatore.
The National Company Law Tribunal (NCLT), Chennai, had approved the bid under the insolvency and bankruptcy process and against this Periasamy Palani Gounder (Promoter & Erstwhile Director) Appu Hotels Limited and other related parties moved appeals before NCLAT.
NCLAT had . Post hearing the parties, it has now reserved its judgment, while allowing parties to make additional submissions, according to sources.
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