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    SUCCESSFUL CONCLUSION OF 14TH NBFC & FINTECH CONCLAVE & AWARDS 2023 WHERE CHIEF GUEST RAMESH IYER DELIVERED INAUGURAL ADDRESS

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    Snapchat to gain a ChatGPT-powered AI chatbot soon

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    Uttar Pradesh signs MoU with Tata Technologies to upgrade 150 state-run ITIs to prepare youth for industry 4.0

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NCLT approves Welspun takeover of Sintex BAPL

Prashant Dwivedi by Prashant Dwivedi
March 18, 2023
in BFSI, Enterprise
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The National Company Law Tribunal (NCLT) bench of Ahmedabad on Friday approved a resolution plan submitted by Welspun Group for the turnaround of KKR-backed popular plastics products maker Sintex BAPL, paving the way for Welspun to take over the troubled company.

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.

The committee of creditors, in its meeting held on January 28, had voted 74.26% in favour of the resolution plan of the Propel Plastic Products-led consortium.

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Source: Economic Times
Tags: bfsiIbcNCLTSintex BAPLWelspun
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Dr. Bhagwat Karad launches a book on Cyber Security

Dr. Bhagwat Karad launches a book on Cyber Security

March 20, 2023
Education ministry sets up panel to strengthen assessment, accreditation of higher educational institutions

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