Net loss of B.L.Kashyap & Sons reported to Rs 6.18 crore in the quarter ended September 2019 as against net profit of Rs 9.89 crore during the previous quarter ended September 2018. Sales rose 5.80% to Rs 217.58 crore in the quarter ended September 2019 as against Rs 205.66 crore during the previous quarter ended September 2018.

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BL Kashyap & Sons will hold a meeting of the Board of Directors of the Company on 13 November 2019.

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B.L.Kashyap & Sons announced that the NCLT, New Delhi haspermitted Syndicate Bank to withdraw the insolvency petition it had filed against the company. The company has proposed for one-time settlement (OTS)of Rs 78 crore to be paid before 28 February, 2020 out of which Rs. 35 crores has already been paid till date.

Further, the NCLT, New Delhi vide their order dated 06 September 2019 (Uploaded on 7October 2019) directed that the petition of Syndicate Bank as Financialcreditor stands dismissed as withdrawn as per joint application with Corporate Debtor (the company).

As the petition was not admitted by the Hon'ble Tribunal, permission granted to thepetitioner Syndicate Bank to withdraw the petition under Rule 8 of I&B (AAA) Rules,2018.

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B.L.Kashyap & Sons has won orders worth Rs 460.53 crore approximately. The projects are from various unrelated domestic clients from varied sectors, the projects will be carried out in cities such as Bangalore and Trivandrum. Most projects are expected to be completed in a period of 24 months from the date of award.

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