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JSW Steel nominees withdraw and resign from board of Vardhman Industries

Steel News - Published on Fri, 28 Dec 2018

Image Source: The Economic Times
JSW said “Further to our earlier communication on 19th, 20th and 26th December, 2018 in relation to the acquisition of Vardhman Industries Limited by us through the corporate Insolvency resolution process undertaken for it, we would like to inform you that acceding to the request of the Resolution Professional of Vardhman Industries Limited and in the interest of propriety, pending appropriate clarifications / modifications to the Hon'ble NCLTs order of 19th December, 2018, we have withdrawn our nominees from the Board of Vardhman Industries Limited and delivered their resignations to the Resolution Professional / Vardhman Industries Limited.”

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Posted By : Rabi Wangkhem on Fri, 28 Dec 2018
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