ERA INFRA ENGINEERING LTD. - Updates

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ERA INFRA ENGINEERING LTD. - Updates

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04 May 2017
Date: 04th May, 2017 Sub:Intimation regarding quashing of order of NCLT by National Company Law Appellate Tribunal (NCLAT) Dear Sir/Madam, This is with reference to earlier intimation made by Interim Resolution Professional Mr. Vivek Goyal (9815522553) to your stock exchange regarding admission of application under section 9 of Insolvency and Bankruptcy Code, 2016 (IBC) by National Company Law Tribunal (NCLT), Principal Bench, New Delhi and subsequent appointment of Interim Resolution Professional (IRP) in our Company as per NCLT order dated 12th April, 2017. In aforesaid subject, we wish to inform you that company has challenged the aforesaid order dated 12.04.2017 in National Company Law Appellate Tribunal (NCLAT) for no notice was issued by Operational Creditor under section 8 of the I & B Code, 2016 and NCLAT has decided the matter on 3rd May 2017 and stated as below: '10. For the reasons aforesaid, we set aside the order dated 12th April 2017 passed by the Adjudicating Authority. The application preferred by Operational Creditor under section 9 stands dismissed being incomplete. All orders, interim arrangement etc as has been made are vacated, moratorium as declared earlier is quashed, appointment of interim resolution professional also stands quashed. All action taken by interim resolution profession is declared illegal. The appeal is allowed with the aforesaid observations.' Accordingly application by creditor stands dismissed and appointment of Interim Resolution Professional (IRP) stands quashed and all the public notices, decisions and actions taken by IRP have been declared illegal. Further it is to inform you that by virtue of aforesaid order of NCLAT all statutory and executive powers of board of directors shall remain valid and binding as they were prior to aforesaid quashed order. This is for your information and record. Please acknowledge receipt of this document. Thanking You, For Era Infra Engineering Limited Sd/- Gaurav Rajoriya Company Secretary
View all announcements for ERA INFRA ENGINEERING LTD.	Source: BSE India

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