Bank of Maharashtra and IFCI had filed a plea opposing the existing plan arguing that the value ascribed to the company was very close to the liquidation value and even a part of the payment to dissenting creditors was through non-convertible debentures (NCDs). That is in contrast with the Supreme Court order in the Jaypee Infratech case, which had set a precedent that dissenting creditors only be paid in cash.from Stocks-Markets-Economic Times
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