Firm has been operating at a very low capacity
Chennai, August 16:
The interim resolution professional appointed to complete the corporate insolvency resolution process of Amtek Auto, on Wednesday wrote to the exchanges to keep the companys shares listed in order to keep the company as a going concern.
NCLTs move
The Corporate Insolvency Resolution Process (CIRP) had been initiated against Amtek Auto by the National Company Law Tribunal in July.
Dinkar Venkatasubramanian, who was appointed the interim resolution professional, in a letter said the company has been operating at a very low capacity for the last few months and it needs working capital immediately.
In terms of mandate under Section 20 of the IBC, I am required…
Read the full article at: http://www.thehindubusinessline.com/markets/stock-markets/amtek-autos-insolvency-pro-asks-ses-to-keep-shares-listed/article9820173.ece