NCLT approves Seshasayee Paper and Boards Ltd as suitor for assets of Servalakshmi Paper Ltd

M/s. Seshasayee Paper and Boards Limited had emerged as the successful bidder in the e-auction held on 19.09.2022 for the acquisition of the assets of M/s. Servalakshmi Paper Limited (Corporate Debtor - In Liquidation), on liquidation on a Going Concern basis.

The Hon'ble NCLT, Chennai Bench vide its Order dated May 12, 2023 (uploaded in NCLT website during the late hours of May 15, 2023), has approved the application filed by the Liquidator for confirmation of sale of assets of M/s. Servalakshmi Paper Limited (Corporate Debtor) (In Liquidation) as a Going Concern, in favour of M/s. Seshasayee Paper and Boards Limited.

Shares of Seshasayee Paper and Boards Limited was last trading in BSE at Rs. 285.35 as compared to the previous close of Rs. 285.80. The total number of shares traded during the day was 2920 in over 223 trades.

The stock hit an intraday high of Rs. 289.95 and intraday low of 284.00. The net turnover during the day was Rs. 835476.00.

Source : Equity Bulls

Keywords

SeshasayeePaperandBoards INE630A01024 NCLTApproval ServalakshmiPaper AssetAcquisition eAuction