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JSW Steel to move to judicial forum in Vardhman Industries case

Steel News - Published on Fri, 19 Apr 2019

Image Source: SteelGuru
JSW Steel has decided to move the National Company Law Appellate Tribunal against the NCLT order rejecting the company’s plea in the Vardhman Industries case. JSW Steel informed BSE “In relation to the Resolution Plan submitted by JSW Steel Limited for Vardhman Industries Limited as approved by the Hon'ble NCLT, by its order dated December 19, 2018. The Company had filed an application before the Hon'ble NCLT seeking clarifications/modifications to the NCLT Order. The Hon'ble NCLT has, by its order dated April 16, 2019 allowed the application seeking modifications/clarifications to the NCLT Order in part.”

JSW said “Since certain important reliefs sought by the company, that has a material bearing on the feasibility and viability of the resolution plan, have not been granted, the company will be appealing against the said Order dated 16.04.2019 before relevant judicial forums.”

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Posted By : Sanju Moirangthem on Fri, 19 Apr 2019
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