ELECTROSTEEL CASTINGS LTD. - Intimation Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

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24 Jun 2022
In continuation to our intimation dated: 15th June 2021, please be informed that the Company had mortgaged its Elavur land in favour of one of the lenders of Electrosteel Steels Limited ('ESL'). Despite the discharge of the entire financial debt of ESL, pursuant to a resolution plan in the Corporate Insolvency Resolution Process ('CIRP') of ESL through a combination of cash and allotment of equity shares, the lender in whose favour the Elavur land was mortgaged sought to assign its alleged loan account in favour of UV Asset Reconstruction Co. Ltd ('UVARCL'). UVARCL filed application at NCLT, Cuttack for initiation of CIRP against the company. NCLT, Cuttack on 24th June 2022, pronounced the order in favour of the Company by dismissing, UVARCL's application.
View all announcements for ELECTROSTEEL CASTINGS LTD.	Source: BSE India

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