Andhra Cements Limited, a company undergoing corporate insolvency resolution, has taken a significant step in its restructuring process by publishing its list of creditors on the company's official website. This move comes as part of the ongoing insolvency proceedings and demonstrates the company's commitment to transparency and regulatory compliance.

Creditors List Publication

The cement manufacturer has made the list of creditors available at https://www.andhracements.com/CIRP.html . This disclosure is a crucial part of the Corporate Insolvency Resolution Process (CIRP) that the company is currently navigating.

Regulatory Compliance

The publication of the creditors list serves multiple regulatory purposes:

1. It adheres to the regulations set forth by the Insolvency and Bankruptcy Board of India (IBBI) for corporate insolvency resolution.
2. The disclosure also fulfills the Securities and Exchange Board of India (SEBI) listing disclosure requirements, ensuring that shareholders and potential investors have access to this critical information.

Stock Market Presence

Andhra Cements maintains its presence on major Indian stock exchanges:

Implications for Stakeholders

The release of the creditors list is a significant development for various stakeholders:

• Creditors: Those owed money by Andhra Cements can verify their claims and understand their position in the resolution process.
• Investors: Current and potential shareholders can assess the company's financial obligations as part of their investment decisions.
• Regulators: The move demonstrates the company's cooperation with insolvency proceedings and adherence to transparency norms.

As the insolvency resolution process continues, stakeholders will likely keep a close watch on further developments and disclosures from Andhra Cements Limited. The publication of the creditors list marks an important milestone in the company's efforts to restructure and potentially return to financial stability.

Andhra Cements Limited , a subsidiary of Sagar Cements Limited, has announced the successful completion and operationalization of a 6 MW Solar Power Plant at its cement manufacturing facility. This green energy initiative marks a significant step towards sustainable operations for the company.

Project Details

The solar power plant has been installed at Andhra Cements' manufacturing facility located in Gamalapadu village, Dachepalli Mandal, Palnadu District, Andhra Pradesh. The company officially disclosed this information to the stock exchanges on August 28, 2023, in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.

Green Energy Initiative

The implementation of the solar power plant is part of Andhra Cements' broader green energy initiative. By harnessing solar energy, the company aims to reduce its carbon footprint and contribute to more sustainable cement production practices.

Company Background

Andhra Cements Limited operates its cement manufacturing plant in Palnadu District, Andhra Pradesh. The company's registered office and main works are situated at Durga Cement Works, Durgapuram, Srinagar Post, Dachepalli Mandal, in the same district.

Impact and Outlook

The operationalization of this solar power plant demonstrates Andhra Cements' commitment to incorporating renewable energy sources into its operations. This move is likely to help the company reduce its dependence on conventional power sources, potentially leading to long-term cost savings and improved environmental performance.

As the cement industry faces increasing pressure to reduce its environmental impact, initiatives like this solar power plant installation could become more common among manufacturers seeking to balance production needs with sustainability goals.