Creative Peripherals witness fire accident in Bangalore's warehouse; Stocks end 5% down

During the incident there was absolutely no injury or loss of human life.

Jun 16, 2021 04:06 IST India Infoline News Service

Market_Crisis
Creative Peripherals and Distribution Limited has informed that there was a fire incident at company's warehouse in Bangalore, India on Tuesday, 8h June 2021.

"A fire broke out at the Company’s Bangalore warehouse at 7:30 AM on 08th June 2021, and the incident has been reported to the relevant authorities, including the local Police and Fire Department.

The cause of the fire is under investigation. Only partial inventory was damaged and in case the brand does not provide boxes, the material may be offered for salvage", company said.

"It is heartening to share that during the incident there was absolutely no injury or loss of human life", it added.

The inventory and warehouse are fully insured, and the Company has submitted all relevant documentation to the insurance company for its survey as per norms, including Fire Dept. Certificate, Police report and inventory report.

The surveyor has been already appointed to conduct a thorough and complete investigation of this incident and we shall be in a position to give more information once we have his full report.

Further course of action would be decided based on the report from the insurance company surveyor, as mentioned by the company.

On Wednesday, the scrip ended at Rs93.90 per piece down by 5.44% on NSE.

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