Clarification on Misleading claim amount circulated in Media and Social Media Platforms.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Sayaji Hotels (Indore) Ltd clarified that media reports quoting an insolvency claim of ₹47.8 Crores against the company are factually incorrect. The actual claim filed by Ujaas Energy Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, before the NCLT Indore Bench, is ₹4,77,92,108 (about ₹4.78 Crores), including interest. The underlying dispute is with Madhya Pradesh Paschim Kshetra Vidyut Vitaran Company Limited (MPPKVVCL), and the company has filed a writ petition before the Madhya Pradesh High Court. The company is reviewing legal action against those spreading the inflated figure and urged stakeholders to rely only on official stock exchange disclosures.
The clarification removes the panic caused by the exaggerated ₹47.8 Crore figure, but an active Section 9 IBC application and an ongoing electricity distribution dispute remain unresolved. Investors should watch for NCLT hearings and any stay or order from the High Court, as adverse rulings could pressure the stock.