Sumeet Industries Ltd gets show cause notice from IDBI Bank

Sumeet Industries Ltd has received yesterday a show cause notice from IDBI Bank Limited, one of the consortium lender of the company with respect to "Defaults Committed Classification as Wilful Defaulter" for Term Loan and Working Capital facilities granted to the company.

The company will submit its response in detail with clarification in respect to allegations cited in the show cause notice to the IDBI Bank within timeline given.

Shares of Sumeet Industries Limited was last trading in BSE at Rs. 6.25 as compared to the previous close of Rs. 6.54. The total number of shares traded during the day was 122868 in over 240 trades.

The stock hit an intraday high of Rs. 6.80 and intraday low of 6.01. The net turnover during the day was Rs. 786204.00.

Source : Equity Bulls

Keywords

SumeetIndustries INE235C01010 ShowcauseNotice IDBIBank WilfulDefaulter