NCLT nod for Kamini Metalliks taking over VBC Industries - The Hindu BusinessLine
NCLT nod for Kamini Metalliks taking over VBC Industries January 25, 2021 As per the arrangement, Kamini Metalliks will pay ₹57 crore to the VBC lenders. The National Company Law Tribunal , Hyderabad has approved the resolution plan of Kamini Metalliks for debt-strapped VBC Industries. VBC Industries, which was earlier declared insolvent, will now have a new owner in Kamini Metalliks which offered ₹98 crore with its bid. Judicial member K Anantha Padmanabha Swamy and Member Technical Binod Kumar Sinha of the NCLT Hyderabad, on a petition moved by the corporate debtor, approved the reso...
Source: thehindubusinessline.com