SAIL to shut down two subsidiary companies
Updated : September 02, 2019 08:28 AM IST
State-run steel maker Steel Authority of India Ltd (SAIL) is shutting down two of its subsidiaries located in Uttar Pradesh and Jharkhand.
The two subsidiary companies have filed application for closure under Fast Track Exit Mode as per provisions of Section 248(2) of the Companies Act, 2013 and Rule 4 (1) of the Companies (Removal of Names of the Companies from the Register of Companies) Rules, 2016.
Another SAIL subsidiary IISCO-Ujjain Pipe and Foundry Company Limited, Kolkata is already under liquidation.
Have you signed up for Primo, our daily newsletter?It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morningYOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more