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.