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The bankruptcy court has approved Ramkrishna Forgings' bid to acquire JMT Auto, a subsidiary of the Amtek Group, through the corporate insolvency resolution process. Ramkrishna Forgings will offer ₹125 crore to acquire JMT Auto, which has admitted financial liabilities of over ₹165 crore. This acquisition is seen as a positive development in the manufacturing sector and may lead to more acquisitions through the Insolvency and Bankruptcy Code (IBC).

A bench comprising Justices M.R. Shah and Sanjiv Khanna said:

New Delhi, May 14 (IANS) The Supreme Court has said that an operational creditor should be treated as a secured creditor in terms of Section 52 read with Section 53 of the Insolvency & Bankruptcy Code (IBC) and entitled to retain the security interest in

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