Key Points
The insolvency resolution process of Sintex BAPL had evinced interest from two bidders - JM Financial Asset Reconstruction Co Ltd and a consortium consisting of Welspun entity Propel Plastic Products Pvt Ltd and Plastauto Pvt Ltd.Representative Image.
The National Company Law Tribunal (NCLT) bench of Ahmedabad on Friday approved a resolution plan submitted by Welspun Group for the turnaround of KKR-backed popular plastics products maker Sintex BAPL, paving the way for Welspun to take over the troubled company.
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