Hubtown has informed that a petition has been filed under the Insolvency and Bankruptcy Code, 2016 (IBC) by International Asset Reconstruction Company, Financial Creditor of the Company, before the National Company Law Tribunal - Mumbai Bench (‘NCLT, Mumbai’) on September 7, 2022 alleging to default in payment of Rs 38,24,95,712 and seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the Company. The Company is seeking appropriate legal advice and take all appropriate steps to protect its interest in the aforesaid matter.
The above information is a part of company’s filings submitted to BSE.
