An Indian court has ordered the liquidation of bankrupt shipbuilder Bharati Defence and Infrastructure.
The move means more than 850 people will lose their jobs and lenders can wave goodbye to much of the INR 111.37bn ($1.56bn) owed to them, the Hindu Business Line reported.
The insolvency court in Mumbai rejected the resolution plan submitted by corporate restructuring firm Edelweiss Asset Reconstruction (ARC).
