IVRCL's liquidation process takes a hit after bidder defaults on ₹1,200 crore payment

IVRCL was one of 28 large borrowers on Reserve Bank of India's (RBI) list of bad loan accounts sent to "Banks have filed an application in the National Company Appellate Tribunal (NCLAT) to restart the liquidation process after Reddy failed to pay. They have also changed the liquidator and hired EY as the liquidating agency, which means this process will restart again," said a person aware of the details.AgenciesLast month, the Hyderabad bench of the NCLT appointed Purusottam Behera as the liquidator of Li ...