Corporate Insolvency Resolution Process: Disclosure under Regulation 30 read with PART A of Shedule III of…
As filed · Punj Lloyd Limited has informed the Exchange about Corporate Insolvency Resolution Process: Disclosure under Regulation 30 read with PART A of Shedule III of the Securities and Exchange Board of India
What happened
FactPunj Lloyd Limited has informed the Exchange about Corporate Insolvency Resolution Process: Disclosure under Regulation 30 read with PART A of Shedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations") thereof being application allowed relating to acquisition plan in the Liqudation Process of Punj Lloyd Limited (the "Corporate Debtor"/Company/PLL) by the Hon''ble Company…
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; +4 corroborating keywords; +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:
- 90%