Business Update23 Dec 2023, 05:53 pm
Ramkrishna Forgings Limited acquires ACIL Limited through NCLT approved resolution plan
AI Summary
Ramkrishna Forgings Limited has acquired ACIL Limited through a resolution plan approved by the National Company Law Tribunal (NCLT) on December 22, 2023. The acquisition is pursuant to the NCLT Order and does not fall within related party transactions. The Company has presence in the machined component space and this acquisition will help increase its presence in the auto components segment. The acquisition is subject to certain conditions and is expected to be completed within 60 days from the NCLT Order date.,
Key Highlights
- Acquisition of ACIL Limited through NCLT approved resolution plan
- Increase in presence in auto components segment
- Subject to certain conditions and expected to be completed within 60 days from NCLT Order date