Please note that pursuant to Section 17 of Insolvency and Bankruptcy Code 2016 the Board of Directors of the Company gets suspended with effect from the date of Order.
Please also note that Resolution plan has been approved by National Company Law Tribunal (NCLT) vide order dated 7th August 2020 and Plastene India Limited is the Resolution Applicant. However the new management is in the process of taking charge of the Company and restructuring the Board of the Company. Hence at present the position is status quo.
The Company is therefore unable to file Corporate Governance Report for the quarter ended 30th September 2020 under Reg. 27 of SEBI-LODR.
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