GFL LimitedGFLLIMITEDNSE
Board of Directors of GFL Limited took note of the order Pronounced by Hon'ble National Company Law Tribunal…
As filed · The Board of Directors of GFL Limited took note of the order Pronounced by Hon'ble National Company Law Tribunal (NCLT) through Circular Resolution. The Board further approved the filing Form INC-28.
DistressCriticalmateriality 98 out of 100
What happened
FactThe Board of Directors of GFL Limited took note of the order Pronounced by Hon'ble National Company Law Tribunal (NCLT) through Circular Resolution. Outcome of the Circular Resolution passed by the board of directors of GFL Limited. and into GFL Limited (‘Transferee Company’) (‘Scheme’) under Sections 230 to 232 and other.
Why it matters
CapitSignal interpretationOnce an insolvency process is admitted, control of the company passes from the board to a resolution professional and equity ranks last in any recovery.
Watch next
Fact- Admission or rejection of the application by the tribunal
- Appointment of a resolution professional
- Claims admitted against the company
Evidence
How CapitSignal classified this
- Reasoning:
- INSOLVENCY base 93; +5 quantified amount; explicit insolvency/default evidence present; matched on subject
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%