NCLT approves joint bid by RIL, JM Financial ARC for Alok Industries

The winning bid was Rs 5,000 crore, which was close to Alok Industries' liquidation value of Rs 4,000-4,500 crore

BS Reporter Last Updated at March 9, 2019 03:58 IST

The NCLT’s Ahmedabad Bench on Friday approved the joint bid by Reliance Industries and JM Financial Asset Reconstruction Company for Alok Industries.

The winning bid was Rs 5,000 crore, which was close to Alok Industries’ liquidation value of Rs 4,000-4,500 crore.

First Published: Sat, March 09 2019. 03:52 IST