INDIA STEEL WORKS LTD. - Disclosure In Terms Of Regulation 30 Of SEBI (Listing Obligation And Disclosure Requirements) Regulations, 2015, As Amended ('Listing Regulations') <BR> Ref: Intimation Of Filing Of An Application Before The National Company Law Tribunal - Mumbai Branch Under Section 7 Of Insolvency And Bankruptcy Code, 2016 ('IBC') <BR>
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12 Oct 2021
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We wish to inform you that a petition has been filed under section 7 of Insolvency and Bankruptcy Code, 2016 ('IBC') by a Financial Creditor of the Company, before the National Company Law Tribunal - Mumbai Bench ('NCLT, Mumbai') alleging to default in payment of dues amounting to Rs. 13,77,85,111/- (Rupee Thirteen crore seventy seven lacs eighty five thousand one hundred eleven only) and seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the Company.<BR> The Company is in discussions with the financial creditor for settlement and also seeking appropriate legal advice and take all appropriate steps to protect its interest in the aforesaid matter. <BR>
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Source:
BSE India
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