Friday, March 17, 2023

NCLT approves Welspun takeover of Sintex BAPL

The company was admitted to the NCLT under the Insolvency and Bankruptcy Code (IBC) in December 2020. The insolvency resolution process of Sintex BAPL had evinced interest from two bidders - JM Financial Asset Reconstruction Co Ltd and a consortium consisting of Welspun entity Propel Plastic Products Pvt Ltd and Plastauto Pvt Ltd.

source https://economictimes.indiatimes.com/industry/banking/finance/nclt-approves-welspun-takeover-of-sintex-bapl/articleshow/98741526.cms

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