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BSE SENSEX
73,088.33
+599.34
+0.83 %
Corporate Announcement
Security Code
539334
Company
Shree Pushkar Chemicals & Fertilisers Ltd
Exchange Received Time
17/04/2020 20:26:28
Exchange Disseminated Time
17/04/2020 20:26:36
Time Taken
00:00:08
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order |
4/17/2020 8:26:28 PM
The Company intimated that the BOD of the Company have approved the proposal of acquisition of 100% stake of Madhya Bharat Phosphates Private Limited (hereinafter 'MBPL') through National Company Law Tribunal, Ahmedabad Bench (hereinafter 'NCLT') under the Insolvency & Bankruptcy Code, 2016 (hereinafter 'IBC') and in pursuance of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, we would like to inform that the NCLT, has approved the Resolution Plan for proposed takeover of MBPL, to which the Company was Resolution Applicant, pursuant to provisions of IBC.
The Company is acquiring 100% stake in MBPL. The unit of MBPL located in Madhya Pradesh, has two plants at Jhabua and Deewanganj has a capacity to manufacture SSP of 1.5 Lac MTA and 0.4 Lac MTA, respectively, and a Plant for a manufacture of LABSA.
The Order of NCLT,was delivered on 5th March, 2020 and the Certified True Copy of the Order, dated 20th March, 2020, was received on 17th April,2020.
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