In an order dated July 17, NCLAT said that Macquarie Bank had no office in India, nor any account with any of the local banks or financial Institutions.
Operating profit before provisions and taxes was Rs 557 crore, 45% up from the year ago period.
Uttar Pradesh's new BJP government led by Yogi Adityanath announced the loan waiver scheme for 87 lakh small and marginal farmers.
The company had reported Rs 235 loss net loss in the fourth quarter.
Janalakshmi, India's largest MFI in terms of loan outstanding, said this appointment is a part of its transition into a small finance bank.
These rural banks will offer about 15,500 jobs this year, marginally higher than the number in the previous year, while vacancies in PSBs are expected to fall sharply.
The company manufactures steel tubes and auto parts for various large auto companies.
If the company fails to resolve the debt problem in the next three months with banks taking a haircut and promoters bringing in equity, it would face liquidation.
Annapurna is India's ninth largest MFI in terms of loans outstanding and grew loan books 34% year-on-year to Rs 1235 crore as on March, 2017.
Insolvency professionals in high demand: CAs, cost accountants and company secretaries rush to get qualified
“CAs (chartered accountants) have to play a huge role in the insolvency resolution domain,” said Arijit Chakraborty, a practising chartered accountant.
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