This is to inform you that Honble National Company Law Tribunal (NCLT), Hyderabad Bench vide Order No. CP (IB) No.326/7/HDB/2018 dated 28th August, 2018 has initiated Corporate Insolvency Resolution Process (CIRP) in Khaitan Electricals Limited (Company) under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), based on the application filed by Bank of India, Financial Creditor of the Company.
Mr. Kamlesh Kumar Singhania (IP Registration No.IBBI.IPA-002/IP-N00023/2016-17/10050) was appointed as Interim Resolution Professional (IRP) with effect from November 28, 2018 under the provisions of IBC. As a result of the said Order, the powers of the Board of Directors stand suspended.
The above may kindly be treated as disclosure pursua…
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