Reliance Industries Ltd (RIL) plans to acquire Sintex Industries
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03 February 2022, Mumbai:
Reliance Industries (RIL) has submitted a revised resolution plan to National Company Law Tribunal (NCLT), Ah medabad to acquire the debt-ridden Sintex Industries for Rs 2,700 2,800 cro re to the financial credi tors, said sources aware of the development.
Textile Co
Sintex, which was promoted by Amit Patel and his family provides fabric to glo- bal clients like Armani. Hugo Boss, Diesel & Burberry.
RIL has reportedly entered into a partnership with Assets Care & Reconstruction Enterprise (ACRE) for the bid to acquire Sintex, said sources. The RIL, offer includes the payment to financial creditors and equity infusion for working capital requirements, said sources.
CREDITS: TOI Dt 03-02-2022
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