Shah Metacorp has informed that Bajrang Refractories (BRPL) had filed application under Section 9 of the Insolvency and Bankruptcy Code (IBC) against the Company for initiation of Corporate Insolvency Resolution Process (CIRP) on March 22, 2018 before the Hon’ble NCLT, Ahmedabad for recovery of default loan amount of Rs 17,98,353.19 (approx.). During the relevant time the information was not disclosed to the stock exchanges due to oversight.
The above information is a part of company’s filings submitted to BSE.
