HYDERABAD: The National Company Law Tribunal (NCLT), Hyderabad bench referred one other batch cases between Belcare Ltd, Vs. Prajay Properties Pvt. Ltd & others and Whitestock Ltd Vs. Prajay Properties Pvt. Ltd & others to the International Arbitration and Mediation Centre (IAMC) Hyderabad.
The petitioners Belcale Ltd invested certain amounts to hold 21.45% equity shareholding and Whitestock Ltd invested 22% equity in Prajay Properties. The matter has been going on for more than three years.
The NCLT bench comprising Justice Ramalingam Sudhakar and Veera Brahma Rao Arekapudi, while going through the counters with the consent of the counsels referred the disputes for negotiations to the newly inaugurated IAMC, Hyderabad. The NCLT bench recently referred its first batch of disputes between Sanghi brothers to IAMC.