Bellary Steel unable to hold AGM due to court's winding up order

MUMBAI(makemystocks) : Bellary Steel and Alloy Ltd Tuesday was unable to hold its annual general meeting on Dec 30 as scheduled due to the winding up order passed by the Karnataka High Court.

Karnataka High Court had passed the winding up order in the case filed by Man Takaraf (India) Pvt Ltd. Bellary Steel has initiated suitable legal action against the winding up order, for which the hearing will take place only after court re-opens on Jan 5.

The company claimed the court order was passed ex-parte without it being given an opportunity to defend the case.

Bellary Steel's offices have been sealed and locked without its knowledge and without serving any notice to company.