NCLT issues moratorium order against Orissa Minerals Development Co

Orissa Minerals Development Company today said that National Company Law Tribunal has issued moratorium order against it for starting the corporate resolution process following the petition filed by Orissa Stevedores.
"NCLT (National Company Law Tribunal) has issued a moratorium order against the company for the purpose referred to in section 14 of the Insolvency & Bankruptcy Code, 2016 for initiating the Corporate Resolution Process pursuit to the petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 by Orissa Stevedores Ltd," the company said in a statement.
The company is engaged in production and mining of iron ore, manganese ore and sponge iron.

Shares of the company were trading 0.72 per cent higher at 1,700.90 apiece on BSE.