CoC approves resolution plan of Shyam Sel and Power Ltd for Mittal Corp Ltd

The CoC of the Corporate Debtor (Mittal Corp Ltd.) has approved the Resolution Plan and accordingly Resolution Professional vide its letter dated 24.02.2023 has issued the Letter of Intent (LOI) in the name of Shyam Metalics And Energy Limited's Material subsidiary company i.e. Shyam Sel and Power Limited and declared it as Successful Resolution Applicant. However, this is subject to the confirmation of the Adjudicating Authority.

Shares of Shyam Metalics and Energy Limited was last trading in BSE at Rs. 284.75 as compared to the previous close of Rs. 285.90. The total number of shares traded during the day was 6766 in over 530 trades.

The stock hit an intraday high of Rs. 286.95 and intraday low of 282.05. The net turnover during the day was Rs. 1919554.00.

Source : Equity Bulls

Keywords

ShyamMetalicsandEnergy ShyamSelandPower ResolutionPlan MittalCorp CoC