ALOK INDUSTRIES LTD. - 521070 - Clarification
With reference to significant movement in price, in order to ensure that investors have latest relevant information about the company and to inform the market so that the interest of the investors is safeguarded, Alok Industries Ltd has Clarified to BSE as under :"We are in receipt of your trailing email communication and have to reply as under: 1. We are just emerging out of a corporate insolvency resolution process under the provisions of the Insolvency and Bankruptcy Code, 2016 (Code) and have kept your Exchange fully apprised of the developments in this regard; 2. The process of implementation of the resolution plan approved by the appropriate authority under the terms of the Code is underway and we have kept your Exchange informed about the salient features of the approved resolution plan as also the steps taken by the resolution applicants for implementation; 3. We have kept your Exchange informed about the lockdown of our plants due to the COVID-19 pandemic as also their re-starting post receipt of appropriate guidelines / advisories; 4. We have thus, to the best of our knowledge and belief, intimated to your Exchange all the events, information etc. that have a bearing on the operations / performance of the company which includes price sensitive information, etc. 5. The increase in the volume of our security in the recent past appears to be based on market speculation and we have no other comment to offer on this development. "23-06-2020