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From today on BSE-NSE, you will not be able to buy and sell the shares of this well-known company! Know the reason

Stock exchanges BSE and NSE have banned trading in Syntex Industries. After this, from today i.e. Tuesday 22 March 2022, no buy and sell will be allowed in the stock. 

New Delhi: Sintex Industries Stock: There is news of work for stock market investors. From today, investors will not be able to buy and sell a large stock. Stock exchanges BSE and NSE have banned trading in Syntex Industries. After this, from today i.e. Tuesday 22 March 2022, no buy and sell will be allowed in the stock. Actually, Reliance Industries-ACRE (RIL-ACRE) has won the bid of Syntex Industries, after which the shares of Syntex were delisted.

Significantly, the lenders of debt-ridden textile company Sintex Industries have approved the joint bid of Reliance Industries (RIL) and Asset Care and Reconstruction Enterprises (ACRE). The financial condition of the company has become so bad that these days it is going through the process of bankruptcy resolution.

information given by the company 

“As per the resolution plan of Reliance Industries Ltd. jointly with Asset Care and Reconstruction Enterprise Ltd., it is proposed that the existing share capital of the company be reduced to zero and the company will be delisted from the stock exchanges i.e. BSE and NSE,” Syntex Industries said. will be given.’ Let us tell you that the Committee of Creditors (COC) of Syntex unanimously voted in favor of resolution by RIL and ACRE.

Know about the company 

Please note that Syntex is a bankrupt company. Insolvency proceedings against Syntex Industries were started in April last year itself. Apart from this, Edelweiss Alternative Asset, Prudent ARC, Trident, Bengaluru-based Himaksinka Ventures, Punjab-based Lotus Home Textiles, Indocount, Nitin Spinners and other companies have received Expression of Interest (EOI) syntax.

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