Metalyst Forging Limited vide its announcement dated May 16, 2024 informed the Exchange regarding approval of the resolution plan by Hon’ble NCLT, Mumbai Bench.
Company further informed that, as an integral part of the Resolution Plan, the equity shares of the Company shall be delisted from all the stock exchanges and cancelled on and from the Effective Date (as defined under the Resolution Plan). The delisting and cancellation of equity shares will not require payment of any exit price by the Company or the Resolution Applicant to any of the existing equity shareholders of the Company, as the liquidation value due to the equity shareholders of the Company as determined in accordance with the Code is NIL (as the value being paid under the Resolution Plan is not adequate to cover the entire repayment of even the secured creditors of the Company).”
In the above circumstances, trading in the securities of Metalyst Forgings Limited shall be suspended w.e.f. May 17, 2024.
|
Sr. No.
|
Scrip Code
|
Name of the Company
|
|
1
|
513335
|
Metalyst Forging Limited
|
For further clarification on the above, please email on bse.soplodr@bseindia.com
Ashok Kumar Singh Shyam Bhagirath
Dy. General Manager Manager
Listing Compliance Listing Compliance
|