NCLT admits insolvency filed by UB Engineering Ltd
This is the first such case the NCLT has admitted
Following the decision, UB Holdings, which owned about 37% loses control over the affairs of UBEL
Failing resolution, the company will go in for liquidation
Though UBEL is a listed company, the stock has been suspended from BSE for penal reasons
UBEL has classified term loans, cash credits and other facilities availed from banks as 'other current liabilities', which at the end of the FY16 stood at Rs. 434.9 crore.
No comments:
Post a Comment