Acquisitions3 Nov 2023, 09:09 pm
Indian Oil Corporation Limited's Resolution Plan for Mercator Petroleum Limited Approved by National Company Law Tribunal
AI Summary
Indian Oil Corporation Limited (IndianOil) has received approval from the Hon'ble National Company Law Tribunal, Mumbai Bench for its resolution plan to acquire 100% stake in Mercator Petroleum Limited (MPL) under the Corporate Insolvency Resolution Process. The acquisition is expected to provide IndianOil with oil and gas exploration blocks in the Cambay Basin, Gujarat.,
Key Highlights
- IndianOil's resolution plan for Mercator Petroleum Limited approved by National Company Law Tribunal
- Acquisition of 100% stake in Mercator Petroleum Limited to provide IndianOil with oil and gas exploration blocks in Cambay Basin, Gujarat