General Announcement::Honourble National Company Law Appellate Tribunal order dated April 30, 2019

Issuer & Securities

Issuer/ Manager
JSW STEEL LIMITED
Securities
JSWSTEELUS$500M4.75%N191112 - XS1133588233 - 20PB
JSWSTEELUS$500M5.95%N240418 - XS1981202861 - VA4B
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
03-May-2019 02:20:11
Status
New
Announcement Sub Title
Honourble National Company Law Appellate Tribunal order dated April 30, 2019
Announcement Reference
SG190503OTHRYIBS
Submitted By (Co./ Ind. Name)
JSW Steel Limited
Designation
Company Secretary
Effective Date and Time of the event
02/05/2019 23:00:00
Description (Please provide a detailed description of the event in the box below)
The Honourable National Company Law Appellate Tribunal has, by its order dated April 30, 2019, ( NCLAT Order ) received by the Company yesterday, inter alia suggested that the Resolution Plan as approved by the Committee of Creditors may be implemented subject to final orders to be passed by the Hon ble NCLAT in the Appeal.

However, since the implementation of the Resolution Plan would in effect be on an interim basis and could create wide ranging uncertainties around rights and liabilities of various stakeholders dealing with VIL, the Company is evaluating its options which include approaching the Hon ble Supreme Court to seek a direction to defer the implementation till the resolution plan, as approved by CoC, is unconditionally approved.

Attachments

SEIntimation.pdf
Total size =110K