We wish to inform you that the Committee of Creditors (CoC) has approved the Liquidation of the Company in accordance with the provisions of section 33 of the IBC. An Application for initiation ....
LAKPRE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 4.4 pts more than Nifty Microcap 250 and 4.3 pts more than its Auto Components & Equipments peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Lakshmi Precision Screws Ltd, currently under the Corporate Insolvency Resolution Process (CIRP), has informed BSE that its Committee of Creditors (CoC) has approved the liquidation of the company under Section 33 of the Insolvency and Bankruptcy Code, 2016. Accordingly, an application for initiation of liquidation has been filed before the NCLT, Chandigarh Bench, and its adjudication is pending. The disclosure is being made under SEBI LODR Regulations by the Resolution Professional, Mr. Deepak Thukral. The company had failed to find a viable resolution plan, leading creditors to opt for winding up the business instead.
This is significantly negative for shareholders — liquidation typically means equity holders are last in the priority order and are likely to receive little to no recovery. Expect high stock price volatility, possible trading restrictions, and near-total loss of equity value once liquidation proceeds are distributed to secured and unsecured creditors.