New Delhi, June 8 -- Independent Sugar Corp. (INSCO) will submit a revised resolution plan worth Rs.2,257 crore to Hindusthan National Glass & Industries Ltd's (HNGIL) committee of creditors in an attempt to turn around the bankrupt container glass manufacturer, a counsel involved in the matter said on the condition of anonymity.

The resolution plan has been revised following a Supreme Court directive that ordered INSCO to match its offer with its rival bidder.

INSCO was in a race with AGI Greenpac Ltd to acquire Kolkata-based HNGIL, India's largest container glass manufacturer.

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Under the revised resolution plan, INSCO will have to pay an...