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GDR manipulation: Sebi bars directors of Sterling Biotech from accessing securities market

GDR manipulation: Sebi bars directors of Sterling Biotech from accessing securities market
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NCLT directs power distribution firm not to take any coercive action against Sterling Biotech

NCLT directs power distribution firm not to take any coercive action against Sterling Biotech SECTIONS Share Synopsis Sterling Biotech’s liquidator had approached the Mumbai bench of the National Company Law Tribunal (NCLT), with a plea to restrain Madhya Gujarat Vij Company Ltd (MGVCL) from cutting its connections since they are trying to sell the company as a going concerned. Agencies The division bench preceded over by a judicial member Janab Mohammed Ajmal and a technical member V Nallasenapathy has directed the MGVCL to file its response in the case and has adjourned the case to June 10. The tribunal has also directed the power company, not to take any coercive action until that time.

Salary arrears: Sterling Biotech workers begin indefinite protest | Coimbatore News

Udhagamandalam: More than 100 employees of Sterling Biotech Ltd, a private industrial unit manufacturing edible and non-edible gelatin at Sandynallah near Ooty, launched an indefinite protest on its campus on Wednesday, demanding the company management to hold talks on salary arrears. The company has not been functional since the Pollution Control Board (PCB) issued a closure order in June 2018. U Murthi, one of the employees, said, “After the closure order, the management had assured us that the company would be functional within six months after complying with the PCB guidelines. More than two years have lapsed and there is no sign of reopening the firm.”

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