In continuation with its earlier disclosure dated July 6th, 2023, in relation to Stay Order granted by Hon’ble NCLAT, New Delhi against the Order dated July 4th, 2023 passed by the Hon’ble National Company Law Tribunal, Mumbai (NCLT) in relation to admission of a Company Petition filed by Bank of India (Financial Creditor/Lender) under Section 7 of the Insolvency and Bankruptcy Code, 2016 in the matter of Financial Creditor invoking the Corporate Guarantee given by the Company in the past for loan availed by principal borrower, Pune Buildtech (Borrower), Valor Estate has informed that Borrower and Financial Creditor have agreed to file Consent Terms with NCLAT, New Delhi pursuant to the One Time Settlement entered into between the Financial Creditor and Borrower. Accordingly, the Financial Creditor shall withdraw any and all other CIRP proceedings instituted, and actions taken by it under any law against the Company and others in the said matter and as a result the NCLT order dated July 4th, 2023 passed against the company shall be set aside. This is a very positive development as the long pending issue between the Bank of India and the Company stands resolved without any liability whatsoever to the Company.
The above information is a part of company’s filings submitted to BSE.
Company Name | CMP |
---|---|
Dilip Buildcon | 440.00 |
Macrotech Developers | 1199.20 |
NBCC (India) | 142.25 |
Prestige EstatesProj | 1555.45 |
DLF | 848.90 |
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