1,20,00,000 – 6% Non-Cumulative Redeemable Preference Shares (“NCRPS”) of Rs. 10/
As filed · Updates
DistressDeterioratingCriticalmateriality 100 out of 100
What happened
Fact1,20,00,000 – 6% Non-Cumulative Redeemable Preference Shares (“NCRPS”) of Rs. 10/-. Company Law Tribunal (“NCLT”), Ahmedabad Bench. This is to further inform you that the Hon’ble NCLT, Ahmedabad Bench, vide its order dated.
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.
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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; +3 quantified percentage; explicit insolvency/default evidence present; matched on subject
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%