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12/10/2023 17:56

Steel Strips Wheels - Updates

Steel Strips Wheels Limited has informed the Exchange regarding 'Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 { SEBI (LODR) Regulations, 2015 } : Steel Strips Wheels Limited's Resolution Plan for acquisition of AMW Autocomponent Limited (AACL) approved by the NCLT'. This is in furtherance to our earlier communication dated 21.09.2021 and pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 {SEBI (LODR)Regulations, 2015}, we wish to inform you that the Resolution Plan submitted by Steel Strips Wheels Limited ( SSWL or Resolution Applicant ) for the acquisition of AMW Autocomponent Limited ( AACL or Corporate Debtor ) under Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code 2016, has now been approved verbally (today i.e. 12.10.2023) by the Principal Bench of the National Company Law Tribunal, Ahmedabad ( NCLT ) .A written order from the NCLT is awaited and shall be communicated as received.