India, June 27 -- Birla Cotsyn (India) Limited has announced the successful acquisition of the company as part of the implementation of a Composite Scheme of Compromise and Arrangement involving Nikhil Jain, Rohstoffe International Private Limited, and Wendt Finance Private Limited (collectively referred to as the "Acquirers"). The scheme, approved by the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench, on January 9, 2025, was carried out under Sections 230 and 66 of the Companies Act, 2013, along with relevant provisions of the Insolvency and Bankruptcy Code (IBC), 2016.
This marks a key milestone in the company's journey towards reinstatement and revival, as the final settlement has been made to the Liquidator, fulfilling the ...