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India Steel Works: Disclosure In Terms Of Regulation 30 Of SEBI (Listing Obligation And Disclosure Requirements) Regulations 2015 As Amended ('Listing Regulations')
Ref: Intimation Of Filing Of An Application Before The National Company Law Tribunal - Mumbai Branch Under Section 7 Of Insolvency And Bankruptcy Code 2016 ('IBC')


We wish to inform you that a petition has been filed under section 7 of Insolvency and Bankruptcy Code 2016 (IBC) by a Financial Creditor of the Company before the National Company Law Tribunal - Mumbai Bench (NCLT Mumbai) alleging to default in payment of dues amounting to Rs. 13 77 85 111/- (Rupee Thirteen crore seventy seven lacs eighty five thousand one hundred eleven only) and seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the Company.
The Company is in discussions with the financial creditor for settlement and also seeking appropriate legal advice and take all appropriate steps to protect its interest in the aforesaid matter.

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