Sintex Plastics Technology reports consolidated net loss of Rs 205 21 crore in the March 2021 quarter business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
NCLT admits insolvency petition against textile company Sintex Industries
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Sintex is the largest debtor taken to the NCLT since the one year moratorium on filing fresh cases ended in March. Lenders tried to complete a one time settlement with Mumbai based Welspun Group in order to avoid going to NCLT. However, the Welspun offer involved as much as a 74% haircut and a long pay back period which discouraged lenders from taking the offer, three people familiar with the negotiations said.
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Delhi-based PNB is the lead lender to Sintex Industries, which also has a twin Sintex Plastics Technology, a household brand name of water tanks in India.
Sintex Plastics intimates of initiation of CIRP against subsidiary Sintex Prefab and Infra business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Read more about Sintex Plastics Technology reports consolidated net loss of Rs 46.12 crore in the December 2020 quarter on Business Standard. Sales rise 34.08% to Rs 265.71 crore