In reference to the disclosure dated 17.10.2017, wherein we had intimated that the Company has received a notice for filing a petition under section 9 of the Insolvency and Bankruptcy Code, 2016, to Honble National Company Law Tribunal (NCLT), New Delhi by M/s Seth Thakurdas Khinvraj Rathi (a partnership firm).
The honble NCLT in the aforesaid matter has issued its order dated 23.11.2017, allowing the petition against the Company and has referred to Insolvency and Bankruptcy Board of India (IBBI) to recommend the name of IRP to be appointed in this case within 10 days of the communication of their order.
The matter is listed on 07th December, 2017 for awaiting recommendation of the proposed IRP by the IBBI.
This is for your reference and record.
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