This has reference to earlier intimation dated 19th July, 2018 regarding admission of application for initiation of Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016(IBC) by the Honble National Company Law Tribunal (NCLT), Kolkata Bench and subsequent appointment of Interim Resolution Professional (IRP) in our Company as per the NCLT Order dated 17th July, 2018.
The Honble National Company Law Appellate Tribunal (NCLAT), New Delhi has decided the matter on 8th January, 2019 setting aside the order passed by NCLT, Kolkata Bench, Kolkata, in CP (IB) No. 203/KB/2018 dated 17th July, 2018, on the grounds that the application under Section 9 of the Insolvency and Bankruptcy Code, 2016(IBC) was not maintainable and the parties have already reached the settlement. As a result of this Order, the Company (Appellant) is released from all the rigour of Law and is allowed to function independently through its Board of Directors.
Please treat this as compliance with Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), 2015.
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