The petition was filed by Assets Care & Reconstruction Enterprises Ltd, earlier in May.
Moneycontrol News
Shriram EPC’s shares soared 15 percent on Friday morning as investors cheered staying of NCLT proceedings pertaining to the firm.
It has touched an intraday high of Rs 20.80 and an intraday low of Rs 18.45.
The company told exchanges on Thursday that the National Company Law Appellate Tribunal (NCLAT) had stayed the corporate insolvency resolution process (CIRP) proceedings against the firm.
The petition was filed by Assets Care & Reconstruction Enterprises Ltd, earlier in May.
In light of these developments, the company has convened its Board Meeting on June 9, 2018, which had earlier been cancelled, to discuss its financial results.
At 10:04 hrs Shriram EPC was quoting at Rs 20.00, up Rs 1.90, or 10.50 percent.First Published on Jun 1, 2018 10:07 am