Financial Services

RIL-JM Financial ARC to buy Alok Industries as lenders approve fresh bid


Majority of lenders of textiles firm Alok Industries have approved Reliance Industries’ resolution plan to acquire the debt ridden firm in conjunction with JM Financial Asset Reconstruction Company. “Pursuant to the voting, the Resolution Plan has received the assent of 72. 192% of the voting share of the CoC,” RIL said in a regulatory filing. Alok Industries also confirmed the development in a separate filing. (Text: PTI)





READ SOURCE

Read More   Here's the level oil needs to hold for the crude rally to rage on, according to one top technician

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.