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L.G.BALAKRISHNAN & BROS.LTD. - Board Meeting Outcome for Outcome Of Board Meeting For The Quarter Ended 30Th June, 2023.
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27 Jul 2023
Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are forwarding herewith the Standalone &amp; Consolidated audited financial results for the quarter ended 30th June, 2023 along with Auditors Report which was reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on today i.e. the 27th July, 2023. Further the Board noted that the Committee of Creditors of RSAL Steel Private Limited (RSAL), through a Letter of Intent (LOI) have declared L.G.Balakrishnan &amp; Bros Limited as the successful bidder for RSAL, under the Insolvency &amp; Bankruptcy Code 2016. The implementation of the resolution is subject to the terms of LOI and requisite approval from regulatory authorities. The NCLT has heard the case and has reserved its order on this matter.
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