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Reliance Industries informs about company updates
India, March 14 -- Reliance Industries has informed about the Resolution Plan jointly submitted by Reliance Industries Limited (RIL) and JM Financial Asset Reconstruction Company Limited (JMFARC) for acquisition of Alok Industries Limited (AIL) under the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code 2016, has been approved by the National Company Law Tribunal, Bench at Ahmedabad (NCLT) by order dated March 8, 2019, subject to certain conditions. The NCLT order is being reviewed for implementation of the Resolution Plan in terms of the NCLT order. The implementation of Resolution Plan is subject to obtaining necessary regulatory approvals, including approval from the Competition Commission of India.The above i...
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