Binani Industries has informed that Edayar Zinc (formerly Binani Zinc), subsidiary of the Company, received a notice from its Bankers under Section 13(4) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI). The said subsidiary has filed a writ petition with Bombay High Court and the Said Hon’ble High Court has directed the Banks not to take any coercive steps in the meantime.
The above information is a part of company’s filings submitted to BSE.
