HomeBusinessInsolvency plea filed against IL&FS transportation's Spanish arm 'Elsamex SAU'

Insolvency plea filed against IL&FS transportation’s Spanish arm ‘Elsamex SAU’

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Mumbai based IL&FS Transportation on 3rd July said, “One of the lenders of its Spain-based subsidiary Elsamex SAU, has filed for insolvency.”

In a filing with the exchange the company said, “The Management of Elsamex SAU, Spain, a wholly-owned subsidiary of the Company has informed that an application has been filed by one of their lenders in the Madrid Mercantile Court, Spain for declaration of its insolvency.”

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“The Judicial order passed by the said Court on June 16, 2020, was received by Elsamex yesterday advising to appear before the Court with 5 days of receipt of the same for filing of response against the application filed by the lender,” the filing said.

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Krishna Mali
Krishna Mali
Founder & Group Editor of TechGraph.
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