Kirloskar Electric Company said that its step-down subsidiary, Lloyd Dynamowerke GmbH & Co KG (LDW) in Bremen, Germany, has filed insolvency petition before the court in Bremen.
The Managing Directors of LDW had taken the decision and filed the petition on September 9, 2014.
However, the company is reviewing this in detail and preparing to contest it, Kirloskar Electric said in a communication to the stock exchange.