Pharma major Wockhardt now has additional time on its hands to finalise a formal repayment plan for its overseas bond holders.
The company has total dues of Rs 358 crore it was supposed to revert to the Bombay High Court with a detailed plan by October 3.
It now has extra time as the court today adjourned the case to October 11.
A group of bondholders led by the bond trustee of the Bank of New York Mellon, Sun Pharma Global and hedge fund QVT besides some creditors had taken Wockhardt to court, filing a wind-up petition, after the company defaulted on repayment of its USD 110-million FCCBs, in 2009.
Wockhardt stock price
On November 27, 2015, Wockhardt closed at Rs 1603.55, up Rs 2.25, or 0.14 percent. The 52-week high of the share was Rs 2000.00 and the 52-week low was Rs 831.10.
The latest book value of the company is Rs 96.99 per share. At current value, the price-to-book value of the company was 16.53.
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