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IVRCL Ltd is faced with a winding up petition filed by Rustech Products Pvt Ltd for payment dues of ₹1.18 crore.
“We would like to inform you that as per the information made available to us, though no notice has been received from the court, there was a petition by Rustech Products for winding up before the High Court of Judicature at Hyderabad for the State of Telangana and the State of Andhra Pradesh claiming payment of ₹1.18 crore,” IVRCL told the BSE in response to a query.
“We have filed our response denying the same and the matter is lying with the High Court,” it added.
The claimed amount of ₹1.18 crore is too small to warrant its winding up, IVRCL maintained.
Financial crisis The infra company is passing through a financial crisis and efforts are under way to resolve various issues. In the past too, a couple of claimants of dues from the company had initiated winding up proceedings. IVRCL shares closed at ₹3.99, up 3 per cent.
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