Cochin Shipyard declared successful resolution applicant by Tebma Shipyards CoC

The implementation of the transaction will be subject to compliance with applicable regulatory requirements and as per the final terms approved by the National Company Law Tribunal, the company said.

Dec 31, 2019 06:12 IST India Infoline News Service

Cochin Shipyard Limited (CSL) has been declared as the successful Resolution Applicant by the Committee of Creditors (CoC) of Tebma Shipyards Limited (TSL) under the Corporate Insolvency Resolution Process (CIRP) of the Insolvency and Bankruptcy Code, 2016.

The implementation of the transaction will be subject to compliance with applicable regulatory requirements and as per the final terms approved by the National Company Law Tribunal, the company said.

Cochin Shipyard Ltd is currently trading at Rs401.50, up by Rs0.9 or 0.22% from its previous closing of Rs400.60 on the BSE.

The scrip opened at Rs399.60 and has touched a high and low of Rs402.05 and Rs397.45 respectively.

Related Story