Impex Ferro Tech Limited has informed the Exchange about Corporate Insolvency Resolution Process
IMPEXFERRO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Impex Ferro Tech Limited has informed the stock exchange that a Corporate Insolvency Resolution Process (CIRP) has been initiated against the company, likely following an NCLT (National Company Law Tribunal) order under the Insolvency and Bankruptcy Code, 2016. This means the company has been formally admitted into insolvency proceedings. A resolution professional will now take charge of managing the company's affairs and finding a resolution plan. Shareholders, lenders, and other stakeholders will be dealt with as per IBC priority rules, where equity shareholders are last in line.
This is a highly negative development for shareholders — equity could be significantly diluted or completely wiped out depending on the resolution outcome. Expect high volatility, possible trading suspension, and sharp decline in stock price. Existing shareholders should closely monitor NCLT proceedings and the resolution plan.