Widely read:
Dear Sir/ Madam
This has reference to our letter dated 1st May 2020 providing details of NCLT order at the hearing held on April 30 2020 approving Resolution Plan in the Corporate Insolvency Resolution Process (CIRP) of the Company; and application dated & 7th May 2019 seeking delisting of Equity Shares of the Company from the Stock Exchanges as per Resolution Plan and NCLT order.
In this regard enclosed please find Certified copy of the Order of Honble NCLT Mumbai dated May 06 2020 (NCLT Order) approving Resolution Plan for CIRP of the Company. Please note that as per the attached NCL Order:
A. The Securities of the Company shall stand delisted from all Stock Exchanges; and
B. Entire pre CIRP Paid-up Capital of the Company including equity shares and preference shares (on a fully diluted basis) shall stand cancelled without any pay-out and that the face value of these shares shall be transferred to the capital reserve of the Company.
