11
Jan
16:15
India's Metkore enters insolvency
Metkore Alloys & Industries Limited has entered insolvency proceedings following an order by the National Company Law Tribunal (NCLT), Hyderabad branch.
This comes after Metkore defaulted on a INR 33 lakhs ($46,895) loan provided in two instalments in 2017 by Hero Wiretex Limited. The latter is a producer of LTAB cables, conductors, and merchant exporter of minerals, textiles and ferrochrome, among other products. Metkore failed to appear at an NCLT hearing …
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