Siti Networks Ltd
Corporate Insolvency Resolution Process (CIRP)-Updates - Corporate Insolvency Resolution Process (C
05:16 PM, 9th Mar 2023
We refer to our disclosures dated February 22 2023 and February 23 2023 pursuant to Regulation 30 of SEBI (LODR) Regulations 2015 about the pronouncement of order dated February 22 2023 by the Honble NCLT admitting the Company to corporate insolvency resolution process under the Insolvency Code. In this regard we have been informed that an appeal has been filed by Ms. Shilpi Asthana Independent Director of the Company before the Honble NCLAT challenging the order dated February 22 2023 of NCLT and after extensive hearing the appeal on March 6 2023 and March 7 2023 the Honble NCLAT was pleased to stay the operation and effect of the NCLT order dated February 22 2023 against the Company and adjourned the matter for filing of reply by IndusInd Bank Ltd. The copy of said order dated March 7 2023 of Honble NCLAT is awaited.The Company shall submit the copy of said order passed by Honble NCLAT once the same is received.