NCLT approves Liberty House’s resolution plan for Adhunik Metaliks’ Odisha plant
Liberty House has offered around 500 crore to take over the assets of the Adhunik Metaliks
Kolkata: Adhunik Metaliks Ltd on Tuesday said in a regulatory filing that the Kolkata bench of the National Company Law Tribunal had passed a verdict approving the resolution plan submitted by Liberty House Group Pte. Ltd to take over its integrated steel plant of 0.45 million tonne in Odisha.
London-based Liberty House has offered around ₹ 500 crore to take over the assets of the delinquent Adhunik Metaliks which also has coal and iron ore mines in Odisha.
The company had an admitted debt of around ₹ 5,000 crore, according to court filings.
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