Brief: Hindusthan National Glass & Industries Says SBI Initiated Proceedings In NCLT Against Co

Hindusthan National Glass And Industries

08/03/2019 12:36

March 8 (Reuters) - Hindusthan National Glass And Industries
Ltd  HNGI.NS :
    * SBI INITIATED PROCEEDINGS IN NCLT, KOLKATA BENCH AGAINST
CO
    * PROCEEDINGS AGAINST CO SEEKING CERTAIN RELIEFS UNDER
SECTION 7
OF INSOLVENCY AND BANKRUPTCY CODE, 2016
    * CO IS IN IMPLEMENTATION STAGE OF ONE-TIME SETTLEMENT OF
OUTSTANDING DUES WITH LENDERS
    * MAJORITY OF LENDERS, INCLUDING SBI, AGREED TO EXTEND TIME
FOR
IMPLEMENTATION OF OTS UP TO MARCH 31
    * INCOMING STRATEGIC INVESTOR HAS APPLIED FOR APPROVAL OF
COMPETITION COMMISSION OF INDIA FOR PROPOSED OTS

Source text : https://www.nseindia.com/corporate/listcontract3_832019174732_Intimation_225.pdf
Further company coverage:  HNGI.NS 

 ((Reuters.Briefs@thomsonreuters.com;))