Moser Baer (India) provides financial update

Comes under purview of Insolvency & Bankruptcy Code

Moser Baer (India) announced that one of the financial creditors has filed an application under Insolvency & Bankruptcy Code (IBC) against MBIL before the National Company Law Tribunal (NCLT) which has been admitted, thus pushing the Company towards a resolution process under IBC. Meanwhile, one of the financial creditors of a subsidiary company has also filed an application before NCLT under the IBC, which has been admitted.

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