Elango Industries has informed that the company has been providing Operations and Maintenance services to one of its group companies, upon which NCLT has initiated Corporate Insolvency Resolution Process, invoking the Corporate Guarantee provided it to one other Company. Hence, Elango Industries has currently suspended its operations. The Company is looking for other avenues to generate revenue and hopes to resume its operations at the earliest, which shall be informed in due course.
The above information is a part of company’s filings submitted to BSE.