PSL’s subsidiaries files proceeding for reorganization of business

02 Jul 2014 Evaluate

PSL’s subsidiaries have filed Chapter 11 proceedings in the relevant Courts in USA. This step has been taken in view of continuous losses in the following two overseas subsidiaries - PSL USA Inc, a wholly owned subsidiary and PSL North America LLC, a subsidiary and joint venture of the company.

Chapter 11 is a chapter of Title 11 of the United States Bankruptcy Code, which permits reorganization of a debtor’s business affairs and assets under the bankruptcy laws of the United States.

PSL is India’s largest producer / manufacturer of HSAW pipes, the line-pipe industry's preferred pipe, with production capacity in excess of the 1 MT mark.

PSL Share Price

0.34 0.00 (0.00%)
12-Oct-2020 18:01 View Price Chart
Peers
Company Name CMP
Tata Steel 148.65
JSW Steel 964.45
SAIL 115.75
Jindal Stainless 674.80
Jindal Saw 316.45
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt.Ltd.