KTIL subsidiary Kesar Multimodal Logistics Ltd put under CIRP

Kesar Terminals & Infrastructure Ltd (KTIL) has announced that petition for initiation of Corporate Insolvency Resolution Process under Section 7 of the Insolvency and Bankruptcy Code, 2016 has been admitted against M/s. Kesar Multimodal Logistics Limited, Wholly-Owned, Material Subsidiary of the Company on 17.02.2022 and IRP has been appointed.

The Application under section 7 of the Insolvency and Bankruptcy Code, 2016 was filed by Bank of Baroda, erstwhile Dena Bank on 18.11.2020 against M/s. Kesar Multimodal Logistics Limited, Wholly-Owned, Material Subsidiary of the Company specifying the amount of default of Rs.88, 10, 11,929.62 as on 31st October, 2020.

Shares of KESAR TERMINALS & INFRASTRUCTURE LTD. was last trading in BSE at Rs. 41.55 as compared to the previous close of Rs. 41.80. The total number of shares traded during the day was 3605 in over 48 trades.

The stock hit an intraday high of Rs. 43.00 and intraday low of 40.10. The net turnover during the day was Rs. 151140.00.

Source : Equity Bulls

Keywords

KESARTERMINALSandINFRASTRUCTURE INE096L01025 KTIL InsolvencyResolutionProcess KesarMultimodalLogistics