Hi I am a student of company law and want to ask whether a company has to notify the stock exchange while applying fo reference to the BIFR ?
Also I want to know, when a company has applied to the BIFR for reference and if its creditors disclose certain material information regarding the compnay to BIFR and if it overlooks such information, then what options do the creditors have ??
I would be really grateful if anyone can give me some information on the same !
Dear Pranav,
If the company is listed in Stock Exchange then it has to mandatorily inform it in writing about its application to BIFR.
In such event, the creditors may move to high court and can seek winding up of the company and can pray to appoint a liquidator.
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