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    HomeNewsBusinessMarketsSunil Hitech tanks 5% as NCLT could begin insolvency proceedings against firm

    Sunil Hitech tanks 5% as NCLT could begin insolvency proceedings against firm

    American Express has taken the company to the NCLT over excess usage of credit cards.

    Moneycontrol News
    September 05, 2018 / 10:59 IST

    Moneycontrol News 

    Shares of Sunil Hitech Engineers fell as much as 5 percent on news report that the infrastructure firm is likely to be put under insolvency proceedings.

    American Express had dragged the infrastructure company to the National Company Law Tribunal (NCLT) in July over dues worth around Rs 45 crore on usage of corporate credit cards.

    Also read- Sunil Hitech to go into bankruptcy motion - for excess use of Amex credit cards

    At 10:25 hrs, Sunil Hitech Engineers was quoting at Rs 2.66 on the BSE, down 5.00 percent from the previous close.

    Moneycontrol News
    first published: Sep 5, 2018 10:59 am

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