This is to inform you that Hindusthan National Glass & Industries Limited (the Company) has received an intimation through the legal counsel of the State Bank of India (SBI), that the SBI, in its capacity as a financial creditor to the Company, has initiated proceedings in NCLT, Kolkata bench on 5 March 2019, against the Company seeking certain reliefs under section 7 of the Insolvency and Bankruptcy Code, 2016.The Company is in the implementation stage of the OTS and is taking best efforts to obtain all approvals for the successful implementation of the OTS. In this regard, the incoming Strategic Investor has applied for the approval of the Competition Commission of India (CCI) for the proposed transaction on 21 January 2019 and the ap…
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