Reliance Industries-JM Financial ARC wins creditors' nod for Alok Industries acquisition

Reliance Industries Ltd and JM Financial Asset Reconstruction Co Ltd received creditors' approval for a ₹5,050-crore resolution plan to acquire debt-laden textile company Alok Industries Ltd. The plan was approved by 72.19% of creditors.

“In a fresh voting of the resolution plan, 72.19 per cent of the creditors have voted in favour of the plan.”thehindubusinessline.com

• 2 sources
• thehindubusinessline.comReliance-JM Financial ARC resolution plan set to win Alok Industries - The HinduBusinessLineRajesh Kurup, P. ManojJun 22, 2018
• economictimes.indiatimes.comRIL-JM Financial to take over Alok Industries as lenders settle for 83% haircut - The Economic TimesSangita MehtaJun 23, 2018

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