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MMTC Ltd. — Capital/Financing Update 2022
May 6, 2022
60315_rns_2022-05-06_24917774-c092-4fae-bdb8-023c02667ce1.pdf
Capital/Financing Update
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Core # 1, Scope Complex, 7 Institutional Area, Lodi Road, New Delhi-110003 Phone No.24362200; 24361889 Email:[email protected] Website:mmtclimited.com CIN:L51909DL1963GOI004033
| No.BS/SE./325/2022 The Listing Department National Stock Exchange of India Ltd. Exchange Plaza, Bandra Kurla Complex, Bandra(East), Mumbai 400051 Symbol & Series:MMTC/EQ |
No.BS/SE./325/2022 The Listing Department National Stock Exchange of India Ltd. Exchange Plaza, Bandra Kurla Complex, Bandra(East), Mumbai 400051 Symbol & Series:MMTC/EQ |
6th May, 2022 |
|---|---|---|
| The Listing Department National Stock Exchange of India Ltd. Exchange Plaza, Bandra Kurla Complex, Bandra(East), Mumbai 400051 Symbol & Series:MMTC/EQ |
Department of Corporate Services, Bombay Stock Exchange Ltd. Phiroze Jeejeebhoy Towers Dalal Street, Mumbai 400 001 Company scrip Code:513377 |
Sub: Disclosure under Regulation 30 of SEBI(LODR) Regulations, 2015.
Dear Sir,
Pursuant to provisions of Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, in continuation of our Disclosure dated 29[th] April 2022 wherein inter alia, it was reported that MMTC has been declared as NPA by the banks due to non-payment of WCL and FITL availed from Banks. This is due to NINL divestment related issues beyond MMTC’s control. A joint lenders meet was held on 2.5.2022 where all the JLM lenders unanimously decided to allow MMTC to continue with trade transactions for MMTC’s survival and to maintain its going concern status. “ Further, with reasonable certainty of closure of account with divestment proceeds as per restructuring, though with a delay upto 30.06.2022, any legal action/other remedial plan is not intended to be initiated for recovery process by JLM lenders, as of now”.
Further important developments will be intimated in due course.
Yours faithfully, For MMTC Limited,
KAPIL KUMAR GUPTA Digitally signed by KAPIL KUMAR GUPTA DN: c=IN, o=MMTC LIMITED, postalCode=110003, st=Delhi, 2.5.4.20=80b7784f85da0a24a6b90527f7c1164c2dc4cef53950d25c235405e34e8de4be, serialNumber=6d5670ffb7d016728bbc388d92f3b2a207ef8fcfe0bed9eb64baa62eef64dd5a, cn=KAPIL KUMAR GUPTA Date: 2022.05.06 15:25:38 +05'30'
(K K Gupta) Director(Finance)