Insolvency Process to be initiated against Arshiya Northern FTWZ Limited

Arshiya Northern FTWZ Limited (ANFL) i.e., a Wholly Owned Subsidiary of Arshiya Limited, vide Company Petition No. (IB) 3080 (MB)/2019 the Hon'ble National Company Law Tribunal (NCLT), Mumbai has ordered and directed to initiation of Corporate Insolvency Resolution Process (CIRP) under the Insolvency Banckurptcy Code, 2016 against ANFL vide it's Order dated 23rd December 2022, however, considering the facts of the case the Hon'ble National Company Law Appellate Tribunal (NCLAT), by its order dated 6th January 2023 in Company Appeal (AT) (insolvency) No.23 of 2023 stayed the operation of the Order dated 23 December 2022 passed by the Hon. NCLT, Mumbai.

Shares of Arshiya Limited was last trading in BSE at Rs. 8.93 as compared to the previous close of Rs. 8.86. The total number of shares traded during the day was 33975 in over 79 trades.

The stock hit an intraday high of Rs. 8.96 and intraday low of 8.70. The net turnover during the day was Rs. 298666.00.

Source : Equity Bulls

Keywords

Arshiya INE968D01022 Subsidiary ArshiyaNorthernFTWZ Insolvency