India's NCLT orders liquidation of Hero Electric Vehicles
→Insolvency resolution fails to secure approval
Change
India’s National Company Law Tribunal ordered liquidation of Hero Electric Vehicles after no resolution plan met creditor approval requirements.
Why it matters
The decision triggers liquidation proceedings and removes the option of corporate revival under insolvency resolution.
Implications
- → Assets will be liquidated — recovery through sale process
- → Creditors must pursue claims via liquidation — recovery uncertain
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Source
View on Times of India