20 MICRONS LTD. - Updates
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| 06 Jun 2016 | |
| 20 Microns Ltd has informed BSE that the Company had entered into an arrangement of sales, marketing and distribution of the products of Ascom Carbonate & Chemicals Manufacturing, EGYPT [ASCOM] [Supplier] since 2009 viz. Ground Calcium Carbonate. The Company had outstanding dues amounting to USD 8,36,166 payable to ASCOM since 2014 due to issues like shortfall in material dispatch, default in payment of cost & freight to shipper, detention charges, default towards issuance of telex/bill of lading etc, and ASCOM was conveyed to have a joint meeting to sort out the issue of outstanding and carry out reconciliation for the same, but there was no positive and concrete response from ASCOM ever. In view of this fact, the Company was constrained to file a Civil Suit at the Hon'ble District Court at Vadodara in December, 2015 for the recourse of arriving at a common outstanding amount by way of reconciliation jointly. On the other hands, the Company received the Notice from the Hon'ble High Court, Gujarat intimating that ASCOM had filed a winding-up petition against the Company to which the first hearing has been fixed for June 20, 2016. | |
| View all announcements for 20 MICRONS LTD. | Source: BSE India |
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