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Maithan Alloys Ltd updates on auction of Impex Metal & Ferro Alloys Ltd

Posted On: 2019-11-12 10:20:04

Maithan Alloys Ltd had participated in the auction of Impex Metal & Ferro Alloys Limited (under liquidation) as a going concern wherein the Liquidator Officer declared us as H1 BIDDER (i.e. highest bidder) and necessary approval of Hon'ble National Company Law Tribunal (NCLT) was awaited.

Subsequently, the said auction of Impex Metal & Ferro Alloys Limited was challenged before Hon'ble NCLT with an offer of higher bid amount, which was accepted by Hon'ble NCLT.

Thereafter, Hon'ble NCLT vide its Order dated 6th November, 2019 advised the Liquidator Officer to refund the Company's bid amount.

A copy of said Order of Hon'ble NCLT was received by us on 9th November, 2019.

Shares of MAITHAN ALLOYS LTD. was last trading in BSE at Rs.438.1 as compared to the previous close of Rs. 447.5. The total number of shares traded during the day was 9559 in over 304 trades.

The stock hit an intraday high of Rs. 456.45 and intraday low of 420. The net turnover during the day was Rs. 4199998.


Source: Equity Bulls

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