NCLT approves Genus Paper & Boards Ltd's resolution plan for NS Papers Ltd

The National Company Law Tribunal (Allahabad Bench) ('NCLT'), has issued its written order dated 23.02.2021 (NCLT Order), approving the resolution plan submitted by Genus Paper & Boards Limited (GPBL)("Resolution Plan"), as approved by the Committee of Creditors ("CoC") of NS Papers Limited, a Company undergoing the Corporate Insolvency Resolution Process (CIRP), pursuant to the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC) and the regulations made thereunder (IBC).

Shares of Genus Paper & Boards Ltd was last trading in BSE at Rs.6.29 as compared to the previous close of Rs. 6.35. The total number of shares traded during the day was 44794 in over 42 trades.

The stock hit an intraday high of Rs. 6.5 and intraday low of 6.25. The net turnover during the day was Rs. 282952.

Source : Equity Bulls

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