NEW DELHI: The Supreme Court of India (SCI) on Thursday allowed the Corporation Bank, which has led a consortium of banks to lend loans to the Amrapali Group, to move the National Company Law Tribunal (NCLT).
A bench of Justices Arun Mishra and U U Lalit, however, restrained the NCLT from proceeding ahead in the matter without any express direction from the court.
Attorney General K K Venugopal, appearing for the Corporation Bank said the bank has lent Rs 270 crore to the Amrapali Group and if it was not allowed to move NCLT, its claim from the real estate firm will become time barred.
He said the claim of the bank will become time barred by November 30.