Brief: Binani Industries says court granted six weeks for seeking legal remedy from DRAT

BIL Vyapar

29/06/2016 11:30

June 29 (Reuters) - Binani Industries Ltd  BINZ.NS : 
 * Court whilst ruling in favour of secured creditors has granted six weeks 
period for seeking appropriate legal remedy from drat 
 
 * Source text:[Binani Industries Limited has informed the Exchange that on June 29, 2016, the Company has received the copy of the order of Bombay High Court dated June 23, 2016, disposing off the writ petition by Edayar Zinc Ltd (EZL) one of the subsidiaries of the Company, filed against the action initiated by its Secured Creditors under Section 13(4) of the SARFAESI Act, 2002. The Court whilst ruling in favour of Secured Creditors has granted six weeks period from the date of the order for seeking appropriate legal remedy from DRAT and directed Secured Creditors to seek only symbolic possession of immovable property during such period granted to EZL.] 
 
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