Beleaguered Vishal Retail on Monday tumbled over 11 per cent to hit a year-low on the Bombay Stock Exchange amid reports that the Delhi High Court has asked the company not to sell its assets.
Shares of Vishal Retail tanked 11.56 per cent to touch a 52-week low of Rs 45.50 on the BSE in the morning trade.
Witnessing a similar trend, the shares plunged 8.38 per cent to Rs 47 on the National Stock Exchange.
The 30-share Sensex of BSE was trading 171.89 points higher, at 19,766.64.
The media reports have suggested that Deutsche Trustee Services, after failing to recover Rs 50 crore it had invested in Vishal Retail, had filed a winding-up petition in February in the Delhi High Court. The court has asked the retailer "not to dispose its assets".
The discount retailer on September 13 had said it would sell its retail trading business to Shriram Group and the wholesale division to private equity firm TPG, for a combined value of Rs 100 crore.
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