# NCLT approves Reliance Industries and JM Financial ARC acquisition of Alok Industries

The National Company Law Tribunal approved the resolution plan jointly submitted by Reliance Industries and JM Financial Asset Reconstruction Company for the acquisition of debt-ridden textile manufacturer Alok Industries under the Insolvency and Bankruptcy Code.

- Type: Acquisition
- Announced: 2019-03-08
- Where: India
- Status: completed
- Products: textiles
- Sectors: [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md)

## Companies

- [Reliance Industries](https://endata.com/companies/1562.md) (acquirer)
- [JM Financial Asset Reconstruction](https://endata.com/companies/32710.md) (acquirer)
- [Alok Industries](https://endata.com/companies/32711.md) (target)

## Sources

- [businesstoday.in](https://www.businesstoday.in/markets/company-stock/story/alok-industries-hits-upper-circuit-after-nclt-clears-plan-for-its-acquisition-by-reliance-jm-financial-arc-178356-2019-03-14), 2019-03-14: "The resolution plan jointly submitted by Reliance Industries Limited and JM Financial Asset Reconstruction Company (JMFARC) Ltd for the acquisition of Alok Industries Ltd under the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code 2016, has been approved by the National C"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.