Canadian investment firm Brookfield has picked up a 51% stake in CleanMax Enviro (CleanMax Solar), which supplies renewable energy to commercial and industrial establishments, said two sources aware of the development...
Jindal Saw’s bid to acquire Sathavahana Ispat okayed
A bankruptcy court has approved Jindal Saw’s application to acquire listed steel maker Sathavahana Ispat through the insolvency resolution process. Prithviraj Jindal- promoted Jindal Saw has proposed to pay ₹694...
Sintex Plastics Tech admitted for insolvency on ARC plea
India’s bankruptcy court has admitted Sintex Plastics Technology under the Corporate Insolvency Resolution Process (CIRP), acting on an application filed by Asset Reconstruction Company (India) (ARC). Last year...
NCLT approves Reliance Industries, ACRE joint bid to acquire Sintex Industries
Reliance Industries and Assets Care & Reconstruction Enterprise (ACRE) have secured approval for their joint bid to acquire debt-ridden textiles maker Sintex Industries from the National Company Law Tribunal (NCLT)...
Jindal Saw set to acquire Sathavahana Ispat under IBC for Rs 530 crore
Jindal Saw, promoted by Prithviraj Jindal, emerged the highest bidder offering about Rs 530 crore for Sathavahana Ispat, undergoing corporate insolvency, said two people aware of the development. Billionaire Anil...
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...
Lenders of Sintex Industries plan Swiss challenge auction to avoid liquidation
Lenders of Sintex Industries Ltd may hold a Swiss challenge auction or inter-se bidding if resolution applicants of the bankrupt textile company do not improve their offers substantially, said two people aware about...
Consortium led by RIL to buy bankrupt firm Sintex
A consortium led by Reliance Industries Ltd (RIL) is among companies seeking to acquire Sintex Industries Ltd, the bankrupt textile maker said in a stock exchange filing on Sunday. RIL has formed a partnership with...