Lenders select Ramkrishna Forgings resolution plan for ailing JMT Auto

Auto component manufacturing company undergoing insolvency proceedings


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

Don't miss the most important news and views of the day. Get them on our Telegram channel

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

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com