NCLT Hyderabad admits SREI Equipment Finance's Section 7 IBC petition against SRK Infracon for a default of Rs 97.34 crore.
The default stems from a restructured loan of Rs 53.02 crore, originally Rs 44 crore, for heavy-duty vehicle financing.
The tribunal appointed Prashant Jain as IRP and declared a moratorium, directing the financial creditor to provide a Rs 1 lakh advance.