Concord Enviro Systems Limited Updates on CIRP Initiation Against Material Subsidiary

Team Finance Saathi

17/Jan/2025

What's covered under the Article:

Insolvency Resolution Process Initiated: Concord Enviro's material subsidiary, Rochem Separation Systems (RSSPL), has entered CIRP.
NCLT’s Acceptance: The Hon’ble National Company Law Tribunal (NCLT) accepted the petition filed by Ketav Consultant.
Impact on the Company: The Corporate Insolvency Resolution Process (CIRP) has been initiated as per the Insolvency and Bankruptcy Code.

Concord Enviro Systems Limited has made a significant announcement regarding its material subsidiary, Rochem Separation Systems (India) Private Limited (RSSPL). As per the latest update, the Hon’ble National Company Law Tribunal (NCLT) has accepted a petition filed by Ketav Consultant to initiate the Corporate Insolvency Resolution Process (CIRP) against RSSPL.

Key Points:

The petition under the Insolvency and Bankruptcy Code (IBC) has been accepted by the NCLT, marking the start of the Corporate Insolvency Resolution Process for RSSPL.
This development comes in the wake of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Concord Enviro Systems has informed both the BSE and NSE regarding the resolution process, following the regulatory guidelines. The company assures that this action is a part of its ongoing efforts to adhere to the listing regulations and provide transparency to its stakeholders.

About Concord Enviro Systems:

Concord Enviro Systems Limited is engaged in providing innovative and sustainable water management solutions. The company offers products and services in environmental engineering, water treatment, and waste management.

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Concord Enviro Systems Limited Updates on CIRP Initiation Against Material Subsidiary

Key Points:

About Concord Enviro Systems:

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