Creditors approve GHCL’s demerger scheme

Creditors approve GHCL’s demerger scheme

Chemicals and textiles manufacturer, GHCL, announced that its secured creditors have approved the scheme of demerger related to the company’s textile businesses and inorganic chemicals.

New
Delhi

Chemicals and textiles manufacturer, GHCL,
announced that its secured creditors have approved the scheme of demerger
related to the company’s textile businesses and inorganic chemicals. The
unsecured creditors and shareholders of the company have approved the scheme of
demerger in April. As per a statement passed by GHCL, the company is now going
to approach the NCLT for its approval. As per RS Jalan, Managing Director, GHCL, this demerger is going to be an important
step towards the next phase of the organization. It will bring better
opportunities, business synergies, and focus for both businesses. He also said
that by doing this the management can cater to the needs of the business in a
better way and will also aid value creation for the stakeholders.

As per the restructuring that was announced
last year, the textile business of GHCL is going to be demerged into a separate
company. Both these businesses will be listed as separate business entities.
According to a statement, this demerger will address business opportunities
with efficient capital allocation.

Source
– Outlook

Also
Read:

https://indiantextilejournal.com/latest-textile-industry-news/ghcl-is-the-best-workplace-among-chemical-industries

https://indiantextilejournal.com/interviews/in-wastewater-mgmt–textile-is-still-under-developing-stage

CATEGORIES
TAGS
Share This

COMMENTS

Wordpress (6)
  • comment-avatar

    You have noted very interesting details! ps decent web site. pitit manman https://oneotv.online/

  • comment-avatar

    Excellent article! We will be linking to this particularly great article on our website. Keep up the good writing.
    live tv racing post news https://bit.ly/fox-8-news

  • comment-avatar

    Some really excellent info, I look forward to the continuation. https://izmirmerkitevdenevenakliyat.com/

  • comment-avatar

    You have noted very interesting details! ps decent web site. https://freehorseracingtv.com/

  • comment-avatar

    Thank you for great content. I look forward to the continuation. https://izmirmerkitevdenevenakliyat.com/

  • comment-avatar

    It’s nice to see the best quality content from such sites.

  • Disqus ( )

    Hi There!

    Now get regular updates from ITJ Magazine on WhatsApp!

    Click on link below, message us with a simple hi, and SAVE our number

    You will have subscribed to our Textile News on Whatsapp! Enjoy

    +91 81082 88300

    Reach out to us

    Call us at +91 8108603000 or

    Schedule a Call Back