JK Paper has received approval from National Company Law Tribunal (NCLT), Hyderabad Bench, for the Resolution Plan submitted by the company. The Resolution Plan involves acquisition of Sirpur Paper Mills (SPML) under the Corporate Insolvency Resolution Process (CIRP) initiated against SPML under the lnsolvency and Bankruptcy Code 2016 (lBC).
In terms of the Resolution Plan, Rs 371 crore will be paid towards settlement of financial creditors, corporate insolvency resolution process cost, admitted operational creditors, workmen and employee dues, etc.
JK Paper is engaged in paper manufacturing business. The company is India’s largest producer of branded papers is a leading player in the printing and writing segment.
Company Name | CMP |
---|---|
JK Paper | 377.00 |
TN Newsprints | 268.50 |
West Coast Paper | 640.10 |
Emami Paper Mills | 112.75 |
Andhra Paper | 514.00 |
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