NCLT issues moratorium order against Orissa Minerals Development Co
The company said that NCLT had issued the moratorium order for starting the corporate resolution process following the petition filed by Orissa Stevedores.
By PTI |
Orissa Minerals Development Company today said that National Company Law Tribunal (NCLT) has issued moratorium order against it for starting the corporate resolution process following the petition filed by Orissa Stevedores.
"NCLT has issued a moratorium order against the company for the purpose referred to in section 14 of the Insolvency & Bankruptcy Code, 2016 for initiating the Corporate Resolution Process pursuit to the petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 by Orissa Stevedores Ltd," the company said in a statement.
The company is engaged in production and mining of iron ore, manganese ore and sponge iron.
Shares of the company were trading 0.72 per cent higher at 1,700.90 apiece on BSE.
"NCLT has issued a moratorium order against the company for the purpose referred to in section 14 of the Insolvency & Bankruptcy Code, 2016 for initiating the Corporate Resolution Process pursuit to the petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 by Orissa Stevedores Ltd," the company said in a statement.
The company is engaged in production and mining of iron ore, manganese ore and sponge iron.
Shares of the company were trading 0.72 per cent higher at 1,700.90 apiece on BSE.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
