Moneycontrol
Last Updated : Jul 12, 2018 03:03 PM IST | Source: Moneycontrol.com

Chambal Fertilisers down 1% as downstream subsidiary voluntary wind-up its biz

Board of directors of Inuva has approved voluntary winding up under the provisions of Insolvency and Bankruptcy Code, 2016 subject to approval of shareholders and other requisite approvals.

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Shares of Chambal Fertilisers and Chemicals fell 1.5 percent intraday Thursday as its downstream subsidiary approved voluntary winding up of the company.

Inuva Info Management is a subsidiary of ISG Novasoft Technologies which is downstream subsidiary of Chambal Fertilisers, accordingly, Inuva is a downstream subsidiary of the company.

Board of directors of Inuva has approved voluntary winding up under the provisions of Insolvency and Bankruptcy Code, 2016 subject to approval of shareholders and other requisite approvals.

Inuva is not having any business operations and as per its audited financial statements for the financial year 2017-18

At 14:51 hrs Chambal Fertilisers and Chemicals was quoting at Rs 152.15, down Rs 1.80, or 1.17 percent.

Posted by Rakesh Patil
First Published on Jul 12, 2018 03:03 pm
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