02 September 2023, Mumbai
IN BRIEF
Lenders to Bombay Rayon Fashions have rejected all the resolution plans received for the textile manufacturer's assets. The company has admitted liabilities of ₹7,234 crore, including ₹6,690 crore financial dues.
Over a dozen companies, including Lalbhai Group-promoted Arvind, had shown interest in acquiring the company through the insolvency resolution process. However, the lenders were not satisfied with the proposals received.
The company's resolution professional will now need to file a fresh report with the National Company Law Tribunal (NCLT). The NCLT will then decide whether to initiate the liquidation process of the company.
Author’s Posts
-
Tamil Nadu Textile Sector Begins Strong Recovery
Tamil Nadu Textile Industry Shows Signs of Recovery
After ...May 22, 2025
-
Shahid Kapoor Joins Taapsee Pannu for Vogue Eyewear India
BRAND ANNOUNCEMENT | VOGUE EYEWEAR WELCOMES SHAHID KAPOOR, WHO JOINS TAAPSEE PANNU AS ITS BRAND AMBAS...
May 22, 2025
-
3rd Morocco International Yarn & Fabric Sourcing Show 2025
3rd Morocco International Yarn & Fabric Sourcing Show 2025
May 13, 2025
-
India’s Apparel Exports: Big Potential, Low Share
Despite having the world’s second-largest vertically integrated textile industry, India’s share...May 05, 2025
CITI: India must engage U.S. on tariffs
"Bridging the Information Gap in the Textile and Fashion Industry."
Latest News
Latest Publications
