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Bartronics
BSE: 532694NSE: BARTRONICSISIN: INE855F01034

5th-Dec-2019 17:25Source: BSE

Bartronics India - Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order

This is to inform you that the Honorable National Company Law Tribunal (NCLT), Hyderabad Bench has passed the order on 02/12/2019 (Uploaded on website on 04/12/2019) admitting the petition CP (IB) No. 375 of 2019 under section 7 of the Insolvency and Bankruptcy Code, 2016 filed by the Financial Creditor Indian Bank and Initiating the Corporate Insolvency Resolution Process under Insolvency and Bankruptcy Code, 2016 (IBC). A Copy of the order issued by the NCLT, Hyderabad is hereby enclosed.

As per Section 17 of the IBC, 2016, the powers of the Board of Directors stands suspended and such powers shall be vested with Shri Chinnam Poorna Chandra Rao (IP Registration No. IBBI/IPA-003/ IPA-000119-18/2017-18/11298) appointed as the IRP with respect to the Company and ordered for Commencement of the Moratorium period under section 14 of the IBC, 2016 with effect from 02/12/2019.

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