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Shares of Compact Disc India (CDI) today settled down nearly 10 per cent at Rs 46.60 on the BSE after the company announced it has no delisting plans, following a case filed for recovery from Hongkong and Shanghai Banking Corporation.
“We confirm that the recovery officer has restrained the company from initiating any process for delisting of the shares of the company,” Compact Disc India said in a filing to the BSE.
During the trade, shares of Compact Disc India dropped down 17 per cent to touch a low of Rs 44.10 on the exchange.
The reaction from the company came with reference to “Suit for recovery filed by Hongkong and Shanghai Banking Corporation and delisting of the shares of Compact Disc India Ltd,” the company added.
However, the company informed that it has already tendered a re-payment schedule for the amount within 12 months from February, 2011. “The company has already paid a sum of Rs 2 crore and the balance amount will be paid within the given time schedule,” it added.
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