Aluminum Co. becomes first to get debt resolution from banks under pre-pack rules
Sudal Industries, an aluminium products manufacturer, has become the first Indian company to get a debt resolution from banks under the insolvency pre-pack mechanism introduced for micro, small and medium-sized businesses (MSMEs). Only six cases have been admitted by NCLT under the pre-pack insolvency resolution process that was introduced in 2021 for the MSME sector to ensure that financial stress faced by smaller companies is resolved quickly for the overall health of the economy.
Jammu And Kashmir Bhanu Pratap Singh Verma Prashant Jain Shree Rajasthan Syntex Sudal Industries Loon Land Development
Source: indiatimes.com