Ashdan properties leads race to acquire Rolta India indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Ashdan properties leads race to acquire Rolta India indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Patanjali Ayurved has made a late bid to acquire debt-laden Rolta India with an all-cash offer of approximately ₹830 crore. This bid comes after Ashdan Properties was declared the highest bidder by banks last week. Patanjali Ayurved approached the National Company Law Tribunal in Mumbai, requesting lenders to consider its offer. The tribunal has put the onus on the committee of creditors to decide whether to entertain the bid since it emerged after the completion of the bidding process.
Rolta first defaulted on foreign currency loans in 2016. After dodging bankruptcy thrice, it finally landed on NCLT table after Union Bank, one of the lenders, filed a petition.
Patanjali Ayurved has made a late bid to acquire debt-laden Rolta India with an all-cash offer of approximately ₹830 crore. This bid comes after Ashdan Properties was declared the highest bidder by banks last week. Patanjali Ayurved approached the National Company Law Tribunal in Mumbai, requesting lenders to consider its offer. The tribunal has put the onus on the committee of creditors to decide whether to entertain the bid since it emerged after the completion of the bidding process.