Pravin Navandar to initiate liquidation of Marmagoa Steel; Stock ends 4% lower

Pravin Navandar shall issue public announcement stating that Corporate Debtor is in liquidation.

Feb 23, 2021 04:02 IST India Infoline News Service

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Marmagoa Steel Limited has informed the commencement of liquidation of the company.

It is submitted that the Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor was ordered on 20th March 2017 and Pravin Navandar was appointed as the IRP of the Corporate Debtor.

Pravin Navandar  shall issue public announcement stating that Corporate Debtor is in liquidation.

The Company stated that all powers of the Board of Directors, Key Managerial Personnel and partners of the Corporate Debtor shall cease to have effect and shall be vested in the Liquidator.

The trading of the company is currently suspended due to penal reasons.

Marmagoa Steel ended at Rs1.83 per piece down by Rs0.09 or 4.69% from its previous closing of Rs1.92 per piece on the BSE.

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