The National Company Law Tribunal, Kolkata Bench has approved the Resolution Plan submitted by Dalmia Bharat Refractories Limited and Himadri Speciality Chemicals Limited in respect of Birla Tyres Limited.
The revival plan submitted by the two companies had received the approval of the committee of creditors of Birla Tyres, which belongs to the Basant Kumar Birla Group of companies, with a vote share of 82.48 per cent
After the sale of shares, the bank's holding now stands at 1,06,91,192 equivalent to nearly 7.50 per cent stake in Birla Tyres, as per data provided by the bank.