Talwalkars Healthclubs has informed that pursuant to an application filed by Axis Bank under Section 7 of Insolvency and Bankruptcy Code, 2016, (‘IBC’) for default of INR 157.84 crores against loan facilities extended by Axis Bank, the Honourable National Company Law Tribunal, Mumbai Bench (‘NCLT’), through its order dated March 9, 2021, initiated Corporate Insolvency Resolution Process of the company under provisions of IBC and appointed Saurabh Kumar Tikmani as the Interim Resolution Professional. The order dated March 9, 2021 was made available on March 15, 2021 and is attached.
The above information is a part of company’s filings submitted to BSE.
