Facor Alloys to terminate conversion agreement with RTVNPL

31 Oct 2022 Evaluate

Facor Alloys has issued a notice dated October 27, 2022 to Rajadhiraj Tirupani Vinayak Natraj (RTVNPL) for termination of conversion agreement executed on August 1, 2021. The termination is due to the continuous breach of various terms of the aforesaid agreement by the RTVNPL. The production at 3 nos. of furnaces which were under conversion agreement and dedicated to RTVNPL have been under complete shutdown with effect from October 13, 2022. Post termination of the aforesaid agreement, the management is exploring all the best available options to restart the production process in the aforesaid furnaces.

Facor Alloys engages in ferro alloys business. The company produces high carbon ferro chrome. The group's principal activity is the manufacture and selling of ferro chrome and their products are used as one of the raw materials in the production of stainless steel. 

Facor Alloys Share Price

7.08 0.02 (0.28%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
Maithan Alloys 980.00
Indian Metal & Ferro 638.35
Facor Alloys 7.08
Shyam Century 16.92
Indsil Hydro Power 44.23
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt.Ltd.