CFM Asset Reconstruction Pvt Ltd has taken Vidarbha Industries Power Ltd (VIPL) to the National Company Law Tribunal (NCLT) for unpaid dues of nearly ₹3,800 crore. VIPL, a Reliance Power subsidiary, defaulted on loans from Axis Bank and SBI, which were later sold to CFM ARC. The NCLT appointed an interim resolution professional to oversee the insolvency process.
Vidarbha Industries Power dragged to NCLT by CFM Asset over Rs 3,800 crore unpaid dues
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