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Splendid Metal Products Ltd - Announcement under Regulation 30 (LODR)-Appointment of Interim Resolution Professional (IRP)

| Updated on April 19, 2019 Published on April 19, 2019

This is to inform you that the Hon ble National Company Law Tribunal (NCLT), Hyderabad Bench has passed the order on 04.04.2019 (uploaded on website on 16.04.2019) admitting the petition CP(IB)No. 666/7/HDB/2018 under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by the Financial Creditor Punjab National Bank and initiating the Corporate Insolvency Resolution Process under Insolvency and Bankruptcy Code, 2016 (IBC). As per Section 17 of the IBC, 2016, the powers of the Board of Directors stands suspended and such powers shall be vested with Mr. T.Sathisan (IP Registration No.IBBI/IPA-001/IP-P00105/2017-2018/10212) appointed as the IRP with respect to the Company and ordered for commencement of the Moratorium period under Section 14 of the IBC, 2016 with effect from 04.04.2019. Accordingly, the Meeting of Board of Directors scheduled to be held on 20th April 2019 (intimated to the Stock Exchange vide letter dated 16.04.2019 has been cancelled.

Pdf Link: Splendid Metal Products Ltd - Announcement under Regulation 30 (LODR)-Appointment of Interim Resolution Professional (IRP)

Source : BSE - www.bseindia.com

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Published on April 19, 2019
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