The future of ABG Shipyard remained in the balance on Thursday after creditors rejected a funding proposal.
The heavily-indebted shipbuilder said the creditors' committee met in Mumbai for the second time, but two requests from its interim resolution professional (IRP) were turned down.
The key request was the setting up of a "corpus" fund to finance ongoing operations, and a proposal to ratify the cash flow summary statement for the period between 4 and 24 September was also turned down.
