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BSE SENSEX
73,730.16
-609.28
-0.82 %
Corporate Announcement
Security Code
513377
Company
MMTC Ltd
Exchange Received Time
06/05/2022 15:33:20
Exchange Disseminated Time
06/05/2022 15:33:20
Time Taken
00:00:00
Disclosure Under Regulation 30 Of SEBI(LODR) Regulations, 2015. |
05/06/22 15:33
Pursuant to provisions of Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, in continuation of our Disclosure dated 29th April 2022 wherein inter alia, it was reported that MMTC has been declared as NPA by the banks due to non-payment of WCL and FITL availed from Banks. This is due to NINL divestment related issues beyond MMTC's control. A joint lenders meet was held on 2.5.2022 where all the JLM lenders unanimously decided to allow MMTC to continue with trade transactions for MMTC's survival and to maintain its going concern status. 'Further, with reasonable certainty of closure of account with divestment proceeds as per restructuring, though with a delay upto 30.06.2022, any legal action/other remedial plan is not intended to be initiated for recovery process by JLM lenders, as of now'.
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