CLUTCHAUTO

Clutch Auto Limited has informed the Exchange regarding 'Liquidation of Clutch Auto Limited and appointment of Liquidator Under section 34(1) of the Insolvency and Bankruptcy Code, 2016'.

Clutch Auto Limited has informed the Exchange that Consortium Lender Banks & Financial Institutions including RIICO, Jaipur took symbolic possession of the Fixed Assets of the Company situated at Faridabad (not in operation) and Bhiwadi respectively u/s 13(4) of Securitisation and Enforcement of Security Interest Act, 2002 and soon thereafter allowed the Company to operate the Bhiwadi production facility in normal course pending discussion with RIICO.

Clutch Auto Limited has informed the Exchange that M/s Clutch Auto Ltd has been registered under the provisions of Sick Industrial Companies Act, 1985 with the Board for industrial & Financial Reconstruction, New Delhi.

Clutch Auto Limited has informed the Exchange that Full & Final Settlement has been reached with Labour Union on July 08, 2013, agreed amount is to be paid in a phased manner in six months. Movement of Machines, Dies & Tools, Raw Materials and semi finished goods to new site at Bhiwadi, Rajasthan, is going apace. Consortium Bank Members are favourably considering to release sanctioned funds to support production at Bhiwadi, documentation has already been completed.The Company hope to pick up momentum at the new location, which has been under production for the last 4 months. Delhi Metro is com

Clutch Auto Limited has informed the Exchange that the Company has suffered loss recently due to its on going shifting of manufacturing facility from Faridabad to its new manufacturing facility at Bhiwadi. The Company has started commercial production at its new manufacturing facility at Bhiwadi and very soon the new facility at Bhiwadi would be fully operational.

Clutch Auto Limited has informed the Exchange that the Company is in the process of shifting its manufacturing operations from Faridabad plant to Bhiwadi plant and has started Commercial production at new site.

Clutch Auto Limited has informed the Exchange that the Company's Term Lenders & Bankers have permitted the Company to sell the property on National Highway at Plot No.1 A, Sector 27-D, Faridabad, proceeds to meet the liabilities of Lenders so that the Company can reduce its debt burden.

Clutch Auto Limited has informed the Exchange that the Company have decided to drop the scheme of demerger of Company.

Clutch Auto Limited has informed the Exchange that strike in the Company's Faridabad Plant has been called off on May 30, 2012.

Clutch Auto Limited has informed the Exchange that the company has started Commercial Production at its Expansion Project, Plot No. SP-173 & 174, RIICO Industrial Area, Kahrani, Bhiwadi-301 019, Dist. Alwar (Rajasthan) last week. 12 Production lines have been commissioned. Company has added two more Production locations its original location Sector 6, Faridabad and outsourcing from an associate unit in DLF Industrial Area, Sector 31, Faridabad. Additional Capacity so generated is being consolidated to reach ~ Rs.50 Lacs per day by end May. Company will be able to meet increasing demand from fo

Clutch Auto Limited has informed the Exchange that Shri Saurabh Gupta, Judicial Magistrate, Faridabad (JMIC) has announced an order in the open court. a) Permitting movement of Machinery to Bhiwadi Plant (the main reason for strike) and b) Restricting the Workmen not to undertake any illegal activity e.g. demonstration, gherao, Dharna & congestion etc in the vicinity of the company within 50 meter from the factory gate.

Clutch Auto Limited has informed the Exchange vide its letter dated April 16, 2012, that "Due to strike in our Factory premises at Faridabad, Workers are not allowing any person to go Inside the Factory premises. Our all administrative work and manufacturing operations are at halt completely".

Clutch Auto Limited has informed the Exchange regarding the following: "Clutch Auto to Launch 77 New Products & Announce 2 International Cooperation and 1 Technology Agreement". The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).<a href=/content/corporate/Clutch_ANN_07012008.zip target=NEW> For more details click here.</a>