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Birla On May 5 last year, Tires filed for insolvency proceedings before the National Company Court Court Answer (NCLT) in Kolkata. NEW DELHI: Dalmia Group of Companies has filed a revised debt settlement against Rs 11 billion bank loan of Birla Tires, which is under insolvency, according to sources close to the matter. A person familiar with the new scheme told The Economic Times that Dalmia Bharat Group of Companies has offered to repay about Rs 3,010 crore of Birla Tires’ outstanding loans. This is said to be three times the amount initially offered to creditors. Birla Tires competes in the commercial vehicle and two-wheeler tire segment. The new proposal has been put to vote and a panel of 11 creditors comprising family banks and financial institutions is expected to take a decision on Tuesday. Birla Tires solutions expert Pratim Bayal did not respond to queries from The Economic Times. Dalmia Bharat declined to comment. On May 5 last year, the Kolkata bench of ...

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Dalmia Group submits revised debt resolution plan for Birla Tyres