Reliance, partner looking to buy bankrupt textile company Sintex

Mukesh Ambani’s Reliance Industries Ltd., along with a partner, are among those bidding to take over bankrupt Indian textile firm Sintex Industries Ltd., according to a stock-exchange filing, as the billionaire attempts to diversify from an oil empire and into telecommunications, green energy and fashion. 
 

Reliance is partnering with Assets Care & Reconstruction Enterprise Ltd. to bid for the company under a court-appointed bankruptcy resolution process, Sintex said in a filing on Sunday. Other bidders are Easygo Textiles Pvt., GHCL Ltd., and Himatsingka Ventures Pvt., which is working with Shrikant Himatsingka and Dinesh Kumar Himatsingka. 

The move by Ambani, whose