Announced Fri, 31 Jul · 16:56 IST
NCLT admits insolvency resolution process against TV Vision Limited
TVVISION · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-2.2%1-day move
₹4.56
prior close
—
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
————-2.2-2.6-4.8-9.4-6.8-13.4-25.4-25.4——
Up moveDown movePending
AI summary
NCLT Mumbai admitted Punjab National Bank's petition to initiate Corporate Insolvency Resolution Process against TV Vision Limited under Section 7 of the Insolvency and Bankruptcy Code. The default relates to a financial debt of about Rs. 294.66 crore with date of default being March 31, 2018. Mr. Alok Kumar Murarka is appointed as Interim Resolution Professional. Moratorium is in effect and board powers are suspended.
Likely market impact
Insolvency process has begun; board suspended, IRP now controls the company. Shareholders may face dilution or loss under any resolution plan.