Moneycontrol
Last Updated : Mar 29, 2018 12:57 PM IST | Source: Moneycontrol.com

Viceroy Hotels hits 52-week low as CIRP initiates resolution under Bankruptcy code

Corporate Insolvency Resolution Process (CIRP) has been initiated in respect of the company, Hyderabad under the provisions of Insolvency and Bankruptcy Code by an order of National Company Law Tribunal with effect from March 12, 2018.

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Shares of Viceroy Hotels touched 52-week low of Rs 12.80, down 8.5 percent intraday Monday.

Corporate Insolvency Resolution Process (CIRP) has been initiated in respect of the company, Hyderabad under the provisions of Insolvency and Bankruptcy Code by an order of National Company Law Tribunal with effect from March 12, 2018.

As per Section 17 of the Code, the powers of the board of directors of the above company stands suspended and such powers shall be vested with Karuchola Koteswara Rao, having IP Registration No. IBBI/IPA-003/IP-N00039/2017-18/10301, appointed as the Interim Resolution Professional.

At 14:58 hrs Viceroy Hotels was quoting at Rs 12.90, down Rs 1.10, or 7.86 percent on the BSE.

Posted by Rakesh Patil
First Published on Mar 26, 2018 03:12 pm
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