KLG Systel: Order of Winding-up passed by Hon'ble High Court of Punjab and Haryana

KLG Systel Ltd has informed BSE that the Honble High court of Punjab and Haryana has passed winding up order against the Company at the hearing held on May 23, 2013 in the Company Petition No.143 of 2012 'The Bank of New York Melon Vs. M/s. KLG Systel India Ltd.' and other Company petitions.

The Honble Company Judge Mr. Justice Surya Kant has further appointed the Official Liquidator as the provisional liquidator and directed him to take over the assets of the Company.

The Company shall discuss further course of action in the Board Meeting being held for consideration of Annual Results to be held on May 29, 2013.