With effect from 15 December 2017
Metalyst Forgings announced that the application filed by State Bank of India under section 7 of the Insolvency and Bankruptcy Code, 2016 ('IBC 2016') read with Rule 4 of Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 before National Company Law Tribunal, Mumbai has been admitted by the Hon'ble Tribunal w.e.f. 15 December, 2017. The Company is now under Corporate Insolvency Resolution Process (CIRP) under the provision of IBC, 2016.The Hon'ble NCLT, Mumbai has appointed Dinkar Tiruvannadapuram Venkatasubramanian as an Interim Resolution Professional ('IRP') for carrying out the CIRP of the Company.
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