RattanIndia Power has informed that REC, holding 0.001% Redeemable Preference Shares (RPS) of INR 28.72 crores in the Company, has filed an application against the Company, under Section 7 of IBC Code. The RPS were issued, in favour of REC, on 27.12.2019. The Company strongly disputes the eligibility and entitlement of REC to seek the initiation of proceedings against it, under the IBC Code and will accordingly, be pursuing the legal remedies in the matter, available under the law.
The above information is a part of company’s filings submitted to BSE.
