Visa Steel case: NCLT asks SBI to file ‘mentioning petition’

By: | Published: May 10, 2018 1:47 AM

By mentioning petition means that lawyers will have to make a mention of the vacation of the interim stay order so that the case can be fast-tracked.

visa steel, Visa Steel case, NCLT, SBIThe Kolkata bench of the National Company Law Tribunal (NCLT) on Tuesday asked State Bank of India (SBI) to file a “mentioning petition”. (Website)

The Kolkata bench of the National Company Law Tribunal (NCLT) on Tuesday asked State Bank of India (SBI) to file a “mentioning petition” in its case against Visa Steel in which the steelmaker had earlier obtained an interim stay from the Orissa High Court, which later got vacated.

By mentioning petition means that lawyers will have to make a mention of the vacation of the interim stay order so that the case can be fast-tracked. SBI counsel Poonam Keswani told FE, “The Orissa High Court order has already been vacated and the bench of Justice Jinan Kr and Madan B Gosavi has asked SBI to file a mentioning petition.”

“Since we want to put up the matter early, the bench has asked to file a mentioning petition,” Keswani said, adding that it would enable putting the case on a faster track.

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