Alok Industries announced that the Corporate Insolvency Resolution Process for the Company expired on April 14, 2018 and the Resolution Professional has not received the approval of the Committee of Creditors for Resolution Plans within the time period prescribed under the Insolvency and Bankruptcy Code, 2016.
The stock had outperformed the market over the past one month till Apr. 13, 2018, rising 26.64% compared with the Sensex’s 0.99% rise. It underperformed the market in past one quarter, declining 3.27% as against 1.16% fall in the Sensex.
Shares of the company declined Rs 0.2, or 4.95%, to trade at Rs 3.84. The total volume of shares traded was 404,148 at the BSE (10.08 a.m., Monday).
Read the full article at: http://www.myiris.com/news/sector/alok-industries-update-on-corporate-insolvency-resolution-process/20180416102659199