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Morarjee Textiles Limited ( (IN:MORARJEE) ) has shared an announcement.
Morarjee Textiles Limited has announced that its Committee of Creditors has approved a Resolution Plan submitted by Shriniwas Spintex Industries Private Limited. This approval is pending further endorsement by the Mumbai Bench of the National Company Law Tribunal, which is a crucial step in the company’s ongoing insolvency resolution process.
More about Morarjee Textiles Limited
Morarjee Textiles Limited, part of the Ashok Piramal Group, operates in the textile industry with a focus on producing high-quality fabrics. The company is based in Maharashtra, India, and has been undergoing a Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016.
YTD Price Performance: -55.14%
Average Trading Volume: 9,138
Current Market Cap: 164.9M INR
Learn more about MORARJEE stock on TipRanks’ Stock Analysis page.