Direct-to-consumer beauty and personal care company Good Glamm Group’s (GGG) efforts to acquire the consumer care business of the Raymond Group that houses the Park Avenue and Kamasutra brands has hit a valuation...
Bankruptcy court admits Bombay Rayon Fashion for insolvency resolution
The bankruptcy court has allowed a petition filed by an operational creditor of Bombay Rayon Fashions Ltd (BRFL) to admit the company for the corporate insolvency resolution process (CIRP) and appointed Santanu T Ray of...
NCLT allows insolvency proceedings against National Textiles Corp
The National Company Law Tribunal (NCLT) has ordered to initiate insolvency proceedings against state-run National Textile Corporation (NTC) after admitting a plea by one of its operational creditors claiming default of...
NCLT admits plea against Modella Textile Industries
A dedicated bankruptcy court has admitted a plea filed by Beacon Trusteeship Ltd against Mumbai-based Modella Textile Industries Ltd after the company defaulted on its dues to the tune of about Rs 502 crore...
Indo Count soars 10% on completing acquisition of home textile biz of GHCL
Shares of Indo Count Industries soared 10 per cent to Rs 186 on the BSE in Monday’s intra-day trade, gaining as much as 17 per cent in the past two trading sessions after the company completed the acquisition of the...
NCLT approves transfer of Raymond Apparel biz to parent firm
The National Company Law Tribunal (NCLT) has approved the scheme of transfer of Raymond Apparel Ltd business to Raymond Ltd. In September 2021, board of Raymond had approved demerging the B2C business, including...
Raymond plans to sell ColorPlus and Park Avenue
Raymond is looking to sell its apparel retailing brands of ColorPlus and Park Avenue businesses, two persons familiar with the development said. Raymond has held talks with Denmark-based retail group Bestseller to sell...
Reliance Industries-ACRE wins bid to acquire Sintex Industries, proposes to delist shares
Sintex Industries’ lenders have approved the joint bid of Reliance Industries (RIL) and Assets Care & Reconstruction Enterprise (ACRE) to acquire the debt-ridden textiles firm under the insolvency resolution...
Lenders seek better offer for Sintex from RIL-ACRE
Lenders have entered the final stage of negotiation with Reliance Industries (RIL) after declaring it the highest bidder for Sintex Industries on Monday evening, said two people aware of the development. At a committee...
Sintex lenders to decide on resolution next week
Lenders of bankrupt Sintex Industries will decide next week on whether to restart the resolution process or to put to vote the four plans that they have received, said two people aware about the development. The...
Sintex Industries insolvency in final stages, company receives revised bids
Four companies, including Reliance Industries, competing for Sintex Industries have revised their bids that will now be placed before the Committee of Creditors (CoC) of the debt-ridden textiles maker for approval...
Reliance-ACRE seeks competition panel’s nod to buy Sintex under IBC
Reliance Industries, in partnership with Assets Care & Reconstruction Enterprises (ACRE), has sought the competition panel’s approval to acquire Sintex Industries in insolvency proceedings. The application to the...
