Bank officers union slams Alok Industries lenders for accepting offer with deep haircut
The All India Bank Officers Confederation (AIBOC) today condemned lenders' decision to accepting Reliance Industries-JM Financial ARC's resolution plan for debt-ridden Alok Industries with a deep 83 per cent haircut.
The AIBOC said the RIL-JM combine has offered just Rs 5,050 crore for the acquisition of Alok Industries, which owes close to Rs 30,000 crore to a consortium of banks and operational creditors,
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