Andhra Pradesh Govt PSU faces insolvency proceedings

Bar & Bench April 13 2018

Insolvency proceedings against another Public Sector Undertaking, the Transmission Corporation of Andhra Pradesh (APTRANSCO) are underway at the Hyderabad Bench of the National Company Law Tribunal.

APTRANSCO is a 100% owned company of Government of Andhra Pradesh.

The application has been filed by operational creditor, Equipment Conductors and Cables Ltd. for default on payment of arbitral award, which was passed in its favour for an amount of Rs. 3,79,61,269 to (upto 31.05.2016 . . .

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