Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that an application has been filed against the Company, under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Religare Finvest Limited, claiming to be a Financial Creditor, before the Honble National Company Law Tribunal, Kolkata Bench for initiation of Corporate Insolvency Resolution Process against the Company, claiming a default of Rs. 51,30,13,699/-.
In this connection, please note that the Company has raised dispute in this matter with the aforesaid Financial Creditor.
