Vardhman Polytex Settles with Operational Creditor

Vardhman Polytex Limited has reached an amicable settlement with M/s. Bhagwati Cotton Company, an operational creditor. This resolves the application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, before the National Company Law Tribunal, Chandigarh Bench. The company will proceed with the terms of the mutual understanding. Further material developments will be communicated to the stock exchanges.