Andhra Bank files bankruptcy plea against Provogue India
Andhra Bank has filed a bankruptcy petition against apparel retailer Provogue India at the National Company Law Tribunal (NCLT) for non-payment of dues, according to reports. Provogue India's shares fell about 8.5% on Friday after the reports emerged. A group of lenders led by Andhra Bank acquired a 51% stake in Provogue India by swapping debt into equity in 2016.