Board of Jyoti Structures suspended w.e.f. 12 July 2017
Jyoti Structures announced that the Company has been going through financial difficulty.
One of the Lenders i.e. State Bank of India had filed application for initiation of corporate insolvency resolution process (CIRP) of the Company as per the provisions of the Insolvency and Bankruptcy Code (IBC) before the Hon’ble National Company Law Tribunal, Mumbai bench (NCLT) which was admitted by the NCLT vide its order dated 04 July 017 (CIRP Order). Pursuant to the CIRP Order, the management of the affairs of the Company has been vested in Vandana Garg, the interim resolution professional of the Company (IRP) appointed by the NCLT with effect from 12 July 2017 (i…
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