GLODYNE TECHNOSERVE LTD. - Update - Winding up Order

Glodyne Technoserve Ltd has informed BSE that:<BR><BR>"The Company had earlier communicated to the Exchanges through its quarterly results mentioning that certain creditors had filed winding up petitions against the Company and that such petitions were admitted by the High Court. Further to the same, the Bombay High Court has passed an order for winding up of the Company & consequential actions, which order has been recently available on the High Court and the Company has received the knowledge of the same on 25th May through the High Court website.<BR><BR>The Company has been contesting such winding up petitions earlier rigorously and it intends to contest the order for winding up of the Company. It also intends to file a scheme of restructuring of the Company, subject to approval of the stakeholders."