Two years later, Amtek Auto readies for its second resolution process

Two years later, as Amtek Auto — one of the Reserve Bank of India’s (RBI’s) dirty dozen — readies for its second run-in with the corporate insolvency resolution process, its creditors are far more cautious and the potential bidders slightly wary.

Three of Amtek group companies, including Castex Technologies, Amtek Ring Gears and Metalyst Forgings are each undergoing separate insolvency resolution process. 

Due to lack of rules regarding group insolvency, lenders of Amtek Auto are in no position to club these insolvencies in order to make it an attractive proposition for investors.

However, potential investors see value in the deal if it gives