MAHAAN FOODS LTD. - Updates
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| 22 Mar 2016 | |
| Mahaan Foods Ltd has informed BSE that the Companys business has severely suffered due to disputes amongst the promoters of the Company. The inter-se disputes amongst the promoters of the Company was settled through execution of Memorandum of Family Settlement (MOFS) on August 31, 2010 which was taken on record by the Honble Company Law Board, New Delhi vide its order dated September 03, 2010. Since then, the family settlement under MOFS remains to be fully executed despite the process of arbitration undertaken by the parties as per directions of Honble High Court in the year 2012.<BR><BR>On account of delay in the process of arbitration, an application was filed in the Honble Delhi High Court to deal with the issues arising out of implementation of MOFS.<BR><BR>At a hearing held on March 21, 2016, the Honble Delhi High Court has fixed the next date of hearing on May 18, 2016.<BR><BR>The Company shall inform the outcome of proceedings of Honble Delhi High Court accordingly. | |
| View all announcements for MAHAAN FOODS LTD. | Source: BSE India |
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