Shares of Wockhardt fell by 10%

Shares of Wockhardt Ltd  fell by 10% and hit the monthly low of Rs312.50 in early trades on media reports that the Bombay High Court (HC) on Friday (March 11, 2011) admitted a winding-up petition filed by the company's foreign currency convertible bond (FCCB) holders.A group of three FCCB holders, or unsecured creditors led by Singapore-based hedge fund QVT, Sun Pharma and Syndicate Bank, had filed the petition in January 2010, according to reports. The three hold bonds worth $42 million, the reports addedWockhardt had to redeem $110 million worth of FCCBs by October last year. Though it managed to settle with several creditors, FCCBs worth about $75 million is still under dispute, as per reports.