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Lanco Infratech Ltd. - Announcement Under Regulation 30 (LODR)- Updates (30.07.2018)

| Updated on July 30, 2018 Published on July 30, 2018

In continuation to the Letter of intimation to Stock Exchanges dated July 17, 2018, it is hereby informed that as per the Order of Honble National Company Law Tribunal (NCLT), Hyderabad Bench dated July 13, 2018, the revised Resolution Plan submitted by Thriveni Earthmovers Private Limited (TEPL) was placed before Committee of Creditors (CoC) by the Resolution Professional (RP) for the approval of the CoC in accordance with the Insolvency and Bankruptcy Code, 2016 and the rules and regulations framed thereunder, which was voted upon by way of e-voting between July 25 to July 26, 2018 by members of the CoC. On account of less than 66% of the votes being cast in favour, the aforementioned approval of the CoC could not be obtained.

As approval of the CoC could not be obtained, the application for liquidation under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016 was filed by Resolution Professional to Honble NCLT, Hyderabad Bench on July 27, 2018. The Bench has posted the matter for further hearing along with other pending matters on August 14, 2018.

This is for your information and record.

Pdf Link: Lanco Infratech Ltd. - Announcement Under Regulation 30 (LODR)- Updates (30.07.2018)

Source : BSE - www.bseindia.com

Published on July 30, 2018
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