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News Details

 
Update

27-Nov-2017

The Company's Banker, Citi Bank, N.A. had initiated action against the Company for recovery of its dues. In the opinion of the Company, the method adopted by the Bank for recoveries is not as per prescribed legal norms and guidelines of RBI. As per the Consent terms filed before the Hon'ble High Court, the Company was required to pay certain amounts on or before 26th November, 2017 which it has not been able to do. The Company is holding discussion with the Bank to extend the period of payment. If the Bank does not agree to extend the period the process of liquidation of the Company which was kept in abeyance will be re- initiated. This is for your record and necessary action.

 
 

TIRUPATI INDUSTRIES (INDIA) LIMITED

14, Sagar Samruddhi, Plot Nos. 1, 2, 3,
Takai, Post Sajgaon, Taluka Khalapur,
District Raigad 410203,
Maharashtra (INDIA)
Tel: +91 81045 29381
Email: info@tirupatiind.com
 

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