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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
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