Arshiya has informed that vide it’s order dated April 23, 2024 (‘Order’) the Hon'ble National Company Law Tribunal (‘NCLT’) admitted an application filed by Punjab National Bank against the Company under section 7 of the Insolvency and Bankruptcy Code, 2016 (‘Code’). An ordinary copy of the Order uploaded on the website of NCLT is annexed. The above referred application was filed for an alleged default in payment of claim under a Corporate Guarantee issued by the Company for loan availed by its subsidiary. The Company has filed an Appeal before the National Company Law Appellate Tribunal u/s 61 of the Code against the Order.
The above information is a part of company’s filings submitted to BSE.
