Union Bank of India files insolvency petition against Indore Dewas Tollways Ltd

The Financial creditor i.e Union Bank of India, SAM Branch, Hyderabad has filed an application under section 7 of The Insolvency and Bankruptcy Code, 2016, read with the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 against Material Subsidiary of Gayatri Highways Limited, M/s. Indore Dewas Tollways Limited (IDTL) before the Hon'ble National Company Law Tribunal, Hyderabad Bench for an amount of default of Rs.194,24,55,662/- (Rupess One Ninety Four Crores Twenty Four LakhsFifty Five Thousands Six Hundred Sixty Two Only).

Shares of Gayatri Highways Limited was last trading in BSE at Rs. 0.88 as compared to the previous close of Rs. 0.84. The total number of shares traded during the day was 110136 in over 60 trades.

The stock hit an intraday high of Rs. 0.88 and intraday low of 0.84. The net turnover during the day was Rs. 95996.00.

Source : Equity Bulls

Keywords

GayatriHighways INE287Z01012 Subsidiary InsolvencyApplication