Sagar Cements (SCL) has been declared as the successful bidder for debt-ridden Andhra Cements, a company which was owned by the Jaypee Group and is under the Corporate Insolvency Resolution Process. The Committee of Creditors (CoC) of Andhra Cements has voted with a majority in favour of the resolution plan filed by Sagar Cements. Accordingly, the plan submitted by SCL has been approved by the CoC and a Letter of Intent has been shared with SCL for their acceptance dated January 13, 2023.
Sagar Cements is a prominent player in the field of cement for adopting progressive manufacturing practices, whether it relates to maintaining high standards of quality of its products or development of its highly valued human resources or the need to keep the pollution to the barest minimum.
