Jyoti Structures first to face bankruptcy under new rules
Power infrastructure company Jyoti Structures' bankruptcy proceedings were approved by National Company Law Tribunal (NCLT) on Tuesday. This makes it the first among 12 companies referred by RBI for insolvency under India's new Insolvency and Bankruptcy Code (IBC). Notably, Jyoti Structures with a total debt of â¹7,000 crore mentioned an offer from a prospective buyer during the hearing.