Lenders select Ramkrishna Forgings resolution plan for ailing JMT Auto

Auto component manufacturing company undergoing insolvency proceedings

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Abhijit Lele Mumbai
Lenders to JMT Auto, a unit of ailing Amtek Auto group, have approved a resolution plan by Ramkrishna Forgings to turn around the component manufacturing company.

JMT Auto is undergoing proceedings under Insolvency and Bankruptcy Code (IBC) and a resolution plan for it is subject to approval by the National Company Law Tribunal (NCLT).

BSE-listed JMT Auto, in a filing with the exchange, said two resolution plans complying with IBC conditions were put to e-voting on November 19, 2022. E-voting on the plans was concluded on January 16, 2023.

Ramkrishna Forgings' plan was approved by 84.61 per

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First Published: Jan 17 2023 | 1:55 PM IST

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