NCLT approves Ambuja Neotia's acquisition of Riverbank Developers
after close1 source ↓written by the desknot a recommendation
- has liabilities
- ₹2,358 crore
- to creditors
- ₹34 crore
- with dues
- ₹1,325 crore
- approved the plan
- 90% of creditors
The National Company Law Tribunal (NCLT) has approved Ambuja Neotia's acquisition of Riverbank Developers, which has liabilities of ₹2,358 crore. The group will make an upfront payment of ₹34 crore to creditors, including HDFC Bank with dues of ₹1,325 crore. Over 90% of creditors approved the plan, marking a significant step in the insolvency resolution process.
Not investment advice. For informational purposes only.