Reliance had jointly bid for Sintex along with Assets Care & Reconstruction Enterprise (ACRE). Mukesh Ambani-promoted Reliance Industries, India’s biggest company by market value, has completed…
Browsing: Sintex Industries
Reliance Industries Ltd (RIL) and Welspun are the leading contenders to acquire bankrupt SintexIndustries, said people with knowledge of the matter. Gujarat RIL, in partnership with…
Reliance Industries Ltd, among others, have submitted expressions of interest (EoI) for bankrupt Sintex Industries Ltd, according to The Economic Times report.
The National Company Law Tribunal (NCLT) has admitted an insolvency petition against Sintex Industries, a popular textile and yarn manufacturer in India, as it failed to pay around Rs 70 billion to creditors, led by PNB.
Soon after Sintex Industries, a popular textile and yarn manufacturer, disclosed in June 2019 about a Rs 900 million default on bonds, Invesco Asset Management (India) Pvt Ltd had filed a petition against the Gujarat-based firm.
A.T.E. has recently worked with Sintex in executing several huge spinning projects, and a new yarn dyeing project is set to be the next milestone in A.T.E.’s long association with the Sintex group.