'Receipt of certified true copy of NCLT order.'
As filed · Selan Exploration Technology Limited has informed the Exchange regarding 'Receipt of certified true copy of NCLT order.'.
DistressDeterioratingMinormateriality 45 out of 100
What happened
FactSelan Exploration Technology Limited has received a certified true copy of an order from the Hon'ble National Company Law Tribunal regarding a Composite Scheme of Arrangement with Antelopus Energy Private Limited. The Scheme will become effective upon filing the certified copy of the order with the Registrar of Companies. Further details will be available on the company's website.
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:
- Procedural update in a matter already reported — scored below the opening event.
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%