The National Company Law Appellate Tribunal (NCLAT) has dismissed all three applications by SBI against the liquidation value of IL&FS Tamil Nadu Power Company Ltd (ITPCL) provided by the debt-ridden firm's lead banker PNB. The tribunal found no error in fixing the liquidation value as of 30.09.2018, as per the RBI circular. Over 90% of lenders by value and 75% by numbers have already approved the ITPCL restructuring plan.
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