MMTC has informed that its Wholly Owned Subsidiary, MTPL Singapore has received the Order from Hon'ble High Court of Singapore on winding up of MTPL Singapore. However, the final order is still awaited. The High Court of The Republic of Singapore heard the matter and ordered the winding up of MTPL, Singapore with reference to UCO Bank, Singapore case no HC/CWU/173/2023 dated 7th September 2023 regarding default made by it in repayment of its commercial transactions to its creditors and other Banks. The company has earlier informed to the Stock Exchanges about the default made by the Wholly Owned Subsidiary, MTPL Singapore dated 09.11.2023.
The above information is a part of company’s filings submitted to BSE.
