In continuation of its earlier letter dated 24th October, 2019, regarding the admission of petition by the National Company Law Tribunal (NCLT), Mumbai Bench, in order dated 22.10.2019 the certified copy of which was received by the Company on 23.10.2019, filed by one of the Operational Creditors, Scorpion Express (Scorpion), Gufic Biosciences has informed that the company and Scorpion have reached a settlement. The agreement of settlement has been signed on 25.10.2019 between both the parties and accordingly Scorpion will file an application for withdrawal of the petition before the NCLT. As the NCLT is on vacation, the said application for withdrawal shall be made after NCLT will resume, on or after 04.11.2019.
The above information is a part of company’s filings submitted to BSE.
