Synopsis:
Diksha Greens hit a 5% lower circuit after NCLT admitted an insolvency plea by Punjab & Sind Bank over unpaid dues of Rs 46.03 crore. The loan, given in 2018, turned NPA in 2019. NCLT has started CIRP and appointed an IRP.
With a market capitalisation of Rs 4.34 crore, the shares of Diksha Greens are currently trading at Rs 4.40 per share, down by 31 percent from its 52-week high of Rs 6.40 crore. In the last one year, the stock has delivered a positive return of 26 percent.
The National Company Law Tribunal (NCLT) in Kolkata has accepted a petition from Punjab & Sind Bank under Section 7 of the Insolvency and Bankruptcy Code (IBC), which sets off insolvency proceedings against the company.
Back in 2018,…