Opto Circuits (India) has informed that one of the Company’s subsidiary company, viz Cardiac Science Corporation, USA, has filed voluntary petition under Chapter 11 of the US Bankruptcy Code to Facilitate Debt Restructuring in US Bankruptcy Courts in the Western District of Wisconsin on October 20, 2015. The above action is initiated by the secured lenders to the Company for such filing and the management of Opto Circuits (India) is taking effective legal recourse required in this regard.
The above information is a part of company’s filings submitted to BSE.
