Aksh Optifibre Ltd faces IBC application; Company appeals NCLT order
Aksh Optifibre Ltd is pursuing legal remedies following the decision of a National Company Law Tribunal regarding an Insolvency and Bankruptcy Code (IBC) application filed against it. Shantanu Investments Private Limited had filed the application under Section 7 of the IBC against Aksh Optifibre Limited.The matter was initially considered by a Division Bench of the NCLT, Jaipur. Due to differing opinions delivered by the Judicial Member and the Technical Member, the case was referred for consideration to another member nominated by the President, NCLT.
Following their hearing of the parties, the third member concurred with the view held by the Technical Member and determined that the application filed under Section 7 of the IBC was maintainable. Subsequently, the matter was sent back to the original Bench for necessary orders.
Aksh Optifibre Limited stated that the order received from the tribunal suffers from errors in fact and law, and it maintains strong grounds to challenge the decision. As a result, the company has filed an appeal with the National Company Law Appellate Tribunal (NCLAT) and is pursuing all available legal avenues under applicable law.
AKSHOPTFBR Stock Price Movement
As of 2:50 PM, shares are edging higher in live trading, climbing 1.87% and currently priced at ₹7.10. The stock trades within a defined intraday range spanning from ₹6.84 to the current market level.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.