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Shree Pushkar Chemicals & Fertilizers Ltd.

BSE: 539334 Sector: Industrials
NSE: SHREEPUSHK ISIN Code: INE712K01011
BSE 00:00 | 24 Apr 2020 Shree Pushkar Chemicals & Fertilizers Ltd
NSE 05:30 | 01 Jan 1970 Shree Pushkar Chemicals & Fertilizers Ltd

Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order

April 17, 2020, 8:26 pm | Source: BSE

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 NCLTwas delivered on 5th March 2020 and the Certified True Copy of the Order dated 20th March 2020 was received on 17th April2020.