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Golden Tobacco
BSE: 500151NSE: GOLDENTOBCISIN: INE973A01010

5th-Feb-2015 12:58Source: BSE

Golden Tobacco - Updates

Golden Tobacco Ltd has informed BSE that the Hon’ble Company Law Board, Mumbai Bench vide its order dated January 29, 2015 in the petition of filed by M/s. J. P. Financial Services Ltd and Ors. (Petitioners) against the Golden Tobacco Limited (the respondent), have not granted ad-interim stay on the petitioners, to alienate properties mainly on following grounds:

1. provisions of SICA prevail over the provisions of the Companies Act and

2. Proper recourse is available to the petitioners to seek approval/permission from BIFR.

Accordingly, the Hon’ble Company Law Board as per their order para 16 (page No. 13 ) ordered that "the petitioners may accordingly seek approval /permission from the BIFR for further prosecution of the petition, if so advised. With the aforesaid observation, the ad-interim prayers stand disposed off.

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