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Indian Oil Corporation (IOC) has acquired Mercator Petroleum for about Rs 148 crore in an insolvency proceeding. As per the resolution plan, the company will pay Rs 135 crore to secured financial creditors, who had admitted claims of Rs 291 crore.
IOC acquires Mercator Petroleum for Rs 148 crore financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
Indian Oil Corporation (IOC) has acquired Mercator Petroleum for about INR 148 crore in an insolvency proceeding. As per the resolution plan, the company will pay INR 135 crore to secured financial creditors, who had admitted claims of INR 291 crore.