Hello,
I hold shares of Karuturi Global. It has been ordered for liquidation on 13th Apr and suspended for trading.
Looking at the claims it seems they have claim of around 2200 crores and have reserves of 1100 cr (as of 2019) and Assets of 1000 cr. Do you think shareholders may get something out of this? There were high volumes on last 2 days.
Secondly, how long does the liquidation process take to complete?
Thank you.
I am assuming you are secondary shareholder and in that case the answer is - “not a single penny.” Believe me, knowing this at the onset is much better than spending years in hope.
As per new insolvency laws - 180 days which maybe extended to 270 days in certain circumstances. But that’s just laws and duration can extend infinitely if things go via court cases and appeals starting from lower courts all the way to supreme court.
Thanks Abhiwin. I suppose money is gone now