Birla Tyres insolvency: NCLT approves joint offer of Himadri Speciality Chemical, Dalmia Bharat Refractories_Birla Tyres insolvency: NCLT approves joint offer of Himadri Speciality Chemical, Dalmia Bharat Refractories

Birla Tyres insolvency: NCLT approves joint offer of Himadri Speciality Chemical, Dalmia Bharat Refractories

May 31, 2024

Birla Tires was spun off from the group’s flagship company Kesoram starting Industries in 2018.

Himadri Specialty Chemical Ltd on Thursday got “verbal” approval from the National Company Court for the joint resolution plan submitted by the company and Dalmia Bharat Refractories Ltd under insolvency proceedings to be acquired by Tires.

Himadri Specialty Chemical in a regulatory filing, NCLT, “has now orally approved the resolution plan for acquisition jointly submitted by the company (strategic partner) and Dalmia Bharat Refractories Ltd (resolution applicant). Birla Tires Limited under the Insolvency and Bankruptcy Code, 2016 (IBC) Corporate Insolvency Resolution Program (CIRP).

He added that he is waiting for NCLT written order. Written order.

The NCLT ordered SRF Ltd (operating creditor of B K Birla Group of Companies) in Chemical to initiate insolvency proceedings in Birla case Tires Ltd in the case filed.

Birla Tires was spun off from the group’s flagship company Kesoram Start Industries in 2018.

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