“The company's factory at Ankleshwar is sealed, without following due procedure of law, by the Mamlatdar of Ankleshwar for alleged recovery of dues towards DPEA, under DPCO 1979. This has happened despite the matter being subjudice before the Hon'ble Gujarat High Court,” the pharmaceutical company said in a filing to the stock exchanges.
The hearing is going on in the matter in the Hon'ble Gujarat High Court and the company hopes the matter will be resolved soon, it added.
The stock opened at Rs 19 and hit a low of Rs 17.40 on the NSE. Around 463,433 shares have changed hands on the counter till noon deals.