Acquisitions17 Mar 2026, 12:43 pm
Sumeet Industries Acquires Nakoda Limited for Rs. 23,46,77,088.00 in Slump Sale
AI Summary
Sumeet Industries Ltd. has been declared as the successful bidder for the acquisition of Nakoda Limited under Corporate Insolvency Resolution Process in accordance with the Insolvency and Bankruptcy Code (IBC), 2016. The acquisition includes Land and Building with an admeasuring Land area of 11534 Sq. Meters and whole Plant and Machinery situated at Phase-3: Chips Manufacturing Plant. This acquisition will expand Sumeet Industries' manufacturing base for Production of Polyester Chips by approx. 400 Tons per day.
Key Highlights
- Sumeet Industries declared as the successful bidder for Nakoda Limited's acquisition
- Acquisition includes Land and Building and whole Plant and Machinery
- Location is near to Sumeet Industries' present plant
- Acquisition will enhance capacity of making Polyester Chips
- Total Final Consideration for the acquisition is Rs. 23,46,77,088.00