Winding up petition filed by Tilaknagar Industries Ltd. against Malt Spirits India Pvt Ltd is admitted by High Court

Company Brief

Bangalore, January 23, 2012

Tilaknagar Industries Ltd. (TI) had filed a winding up petition against MALT SPIRITS INDIA PVT. LTD. (MSIPL), Bangalore, Karnataka. The said petition was filed by TI at High Court, Karnataka, for the recovery of its legitimate pending dues of Rs.2.68 Crores arising out of the manufacturing agreement entered between them, wherein TI was not refunded the deposit provided by TI under the concerned agreement and other legitimate dues pending against MSIPL.

The Hon’ble Judge had allowed the interim application filed by TI restraining MSIPL from disposing off its assets and had called upon MSIPL to file its reply.

The Hon’ble Court today deemed it fit to admit the petition filed by TI on the basis of the validity of the claim and has ordered it for being advertised in the newspapers that the claim has been admitted by the Hon’ble Karnataka High Court.

For further information, please contact:

Spin Communique

Harshala Nayak

Mobile: +919619700161

Email: harshunayak@gmail.com