Earlier this week, Sintex Industries, which is going through the insolvency resolution process, had informed CoC has unanimously voted in favour of the resolution plan by Reliance Industries and ACRE, , reliance industries, ACRE, sintex industries, NCLT
The resolution professional of Sintex Industries has filed the resolution plan by RIL and ACRE, as approved by the CoC before the Ahmedabad Bench of NCLT.
Trading in shares of Sintex was suspended on NSE and BSE, with effect from Tuesday, following the approval of the insolvency resolution plan by the members of the CoC.
Stock of Sintex Industries closed at Rs 7.82 on Monday, down 4.98% against the previous close of Rs 8.23 on BSE. It opened at Rs 7.82 and was stuck at the same level through the session
The lenders of the debt-ridden textiles maker Sintex Industries have approved the joint bid of Reliance Industries and Assets Care & Reconstruction Enterprise to acquire the firm under the insolvency resolution process.