The ongoing efforts to acquire Bhushan Power and Steel Liberty House is another case in which NCLT has been following earlier and its application is pending.

Mumbai: Liberty House Amtek to be acquired Auto. The bankruptcy court appointed an official to manage the debt resolution of the auto parts maker confirmed on Wednesday that the British Metals Group is the preferred bidder for the assets. The bidder said the acquisition will help Amtek Auto retain 6,000 jobs and help Liberty House enter the Indian auto industry. The company has recently made a series of acquisitions in the steel industry in the UK and Australia, including Tata Steel’s UK operations.

Liberty House Sanjeeveev chairman Gupta “This business will be the cornerstone of our strategy to launch ‘Green Metals’,” he said Auto excellent customer base working closely together. ” ‘

Freedom House’s eco-metal strategy is to recycle scrap metal rather than produce it from scratch. Amtek Auto Maruti Suzuki’s top supplier (Maruti Suzuki) and Tata Motors When the automaker supplied parts, the company owed about Rs 127.22 billion to financial creditors, and U.S.-based hedge fund Deccan Value Investors was the finalist bidder for the assets.

Freedom House said it has identified the assets. Amtek has a comprehensive plan in place. “Amtek starts with a vision to earn the trust of our customers and employees, and then rapidly scales up production, which will complement our existing automotive strategy in the UK and share many of our repeat customers.” Details of the plan were not immediately available.

In addition to Amtek Auto, Liberty House has submitted bids for ABGG Shipyard and Bhushan Power Steel, and the National Companies Court is considering whether to make a bid for Bhushann after the deadline Power Steel made a bid.

Amtek. Automotive manufacturing of steel and aluminum components including connecting rods, crankshafts, flywheels, engine blocks, cylinder heads and various engine cases and driveline components including forging, iron and aluminum casting, machining and assembly. State Bank of India referred it to the NCLT last year and on the 7th of this year the Chandigarh court recognized that the debt could be settled under the Insolvency and Bankruptcy Code.