The Exchange had sought clarification from Jyoti Structures Ltd with respect to news article appearing on www.livemint.com - August 20, 2018 titled "NCLAT stays liquidation process of Jyoti Structures".
The Company response is given below:
In respect of the new-report of Livemint dated August 20, 2018 titled "NCLAT stays liquidation process of Jyoti Structures", we would like to clarify that vide the order dated August 20, 2018, the Honble National Company Law Appellate Tribunal (division bench comprising of Justice Mukhopadhaya and Justice Cheema) has directed that until further orders, the Honble National Company Law Tribunal, Mumbai bench (the "Honble NCLT") will not pass any order for liquidation of Jyoti Structures Limited ("JSL") and neither the Resolution Professional or the Honble NCLT will take steps to sell any movable or immovable properties of JSL. Further, the Resolution Professional has been directed to ensure that JSL remains going concern. It is clarified that the liquidation had not been ordered by the Honble NCLT, the Honble NCLT had only rejected the application for determination in respect of the resolution plan vide its order pronounced on July 25, 2018. It is clarified further that the figures of debt owed set out in the said news-report/article are approximate and not actual.
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