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BHARATI SHIPYARD LTD. - Bharati Shipyard Ltd reply to clarification sought by the exchange
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12 Mar 2015
The Exchange had sought clarification from Bharati Shipyard Ltd with respect to news article appearing in Financial Express on March 12, 2015 titled &quot;Winding-up pleas against Bharati Shipyard queer the pitch for other lenders&quot;&lt;BR&gt;&lt;BR&gt;Bharati Shipyard Ltd replied stating &quot;We would advise as follows:- &lt;BR&gt; &lt;BR&gt;1. The Petitions in respect of the following have been disposed off by the H&apos;ble court&lt;BR&gt;i. ABC Infra&lt;BR&gt;ii.Darshan Road Lines Pvt.Ltd&lt;BR&gt; &lt;BR&gt;The Petitions in respect of the following are expected to be disposted off on Monday, March 16, 2015.&lt;BR&gt; &lt;BR&gt;i. Super Tug Offshore Services&lt;BR&gt; &lt;BR&gt;2. We would further advise that in respect of Life Insurance Corporation of India we had pointed out our opinion they are Secured Creditors. In respect of Shipping Corporation of India, the matter with Bharati and SCI is already under Arbitration as a commercial dispute. This Arbitration has been agreed to by Bharati and Shipping Corporation of India. In respect of IDBI, please note that their Petition was only given to Bharati on March 09, 2015.&lt;BR&gt; &lt;BR&gt;3. On preliminary hearing of the matter the H&apos;ble Court has granted three weeks time to Bharati to file an Affidavit. In Reply in respect of the above three Petitions :- &lt;BR&gt; &lt;BR&gt;i) Life Insurance Corporation&lt;BR&gt;ii) Shipping Corporation of India &lt;BR&gt;iii) IDBI Capital&lt;BR&gt; &lt;BR&gt;It would be noted that the H&apos;ble court has not passed any order of Winding up against the Company.&quot;
View all announcements for BHARATI SHIPYARD LTD. Source: BSE India

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