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Maithan Alloys informs about disclosure

26 Jun 2021 Evaluate
Pursuant to the letter dated 31st May, 2021 intimating Honourable National Company Law Appellate Tribunal (NCLAT) vide its Order dated 28th May, 2021 directed the Liquidator of Impex Metal & Ferro Alloys (IMFAL) to complete the sale transaction by 17th, June, 2021 as per terms of ‘Joint Agreement of the Settlement', Maithan Alloys has informed that implementation of said Order dated 28th May, 2021 is under progress. The Company has already discharged its obligation under the said Order of NCLAT by remitting the consideration to a designated bank account specified by the Liquidator. Liquidator has handed over the possession of manufacturing unit of IMFAL to the Company which is presently not in operation. After carrying out necessary repairs, the Company expects to commence the operation of the manufacturing unit shortly. Further, Liquidator is in process of concluding sale transaction and to handover the IMFAL as a Going Concern by complying and fulfilling other statutory and legal formalities such as payment of taxes and duties, inducting its nominee as directors and shareholder of IMFAL as well as obtaining final approval of appropriate Tribunal. NCLAT vide its Order dated 21st June, 2021 had directed the liquidator to extent necessary cooperation for restoring electric supply at manufacturing unit of IMFAL.

The above information is a part of company’s filings submitted to BSE.

Maithan Alloys Share Price

1111.20 -28.50 (-2.50%)
19-Jun-2026 16:59 View Price Chart
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Company Name CMP
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