India Steel Works Ltd announces physical possession of the secured assets

India Steel Works Limited was served with a notice from the Office of Tehsildar and Executive Magistrate, Khalapur, to take possession of the assets of the Company given as security to Kotak Mahindra Bank Limited to obtain Loans / facilities.

Office of Tehsildar and Executive Magistrate, Khalapur, took possession of the secured assets i.e Factory at Khopoli. The Company is in process of making an Appeal with apt authorities, to recall the Order & restoration of the possession of the Assets.

Shares of INDIA STEEL WORKS LTD. was last trading in BSE at Rs. 2.18 as compared to the previous close of Rs. 2.17. The total number of shares traded during the day was 72513 in over 172 trades.

The stock hit an intraday high of Rs. 2.22 and intraday low of 2.15. The net turnover during the day was Rs. 158484.00.

Source : Equity Bulls

Keywords

INDIASTEELWORKS INE072A01029 SecuredAssets PhysicalPossession