Insolvency application: Arun Jagatramka said the future still looks bright for Gujarat NRE Coke.
Indian mining mogul Arun Jagatramka, who left Wollongong after his company spluttered and was taken over, has filed for insolvency protection in his homeland.
Gujarat NRE Coke, former parent company of what is now Wollongong Coal, has applied for insolvency resolution, the firm told the Bombat Stock Exchange (BSE)
True to form, Mr Jagatramka has assured shareholders it is just a minor bump in the road and the future looks bright for the company.
Nothing to worry about, he told the Mercury on Tuesday night via Twitter.
Company’s business runs on going concern basis and all jobs are protected.
Business is having a bright future with coking coal pri…
Read the full article at: http://www.illawarramercury.com.au/story/4562674/gujarat-nre-insolvency-bid-just-a-scratch/
