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'Pref share owners aren't fin creditors'
Mint Mumbai
|September 12, 2023
Can't be tagged so unless the shares are due for redemption: NCLT
The Kolkata bench of the National Company Law Tribunal (NCLT) on Monday ruled that a preference shareholder cannot be classified as a financial creditor till such shares are due for redemption.
NCLT’s observation was in relation to a petition filed by the liquidator of EPC Constructions India Ltd for initiating corporate insolvency resolution against West Bengal-based Matix Fertilisers and Chemicals Ltd.
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