Alok Industries lenders slammed for accepting offer with deep 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,
Alok Industries is one of the 12 companies, the so-called ?dirty dozen', identified by the Reserve Bank of India in May last year for initiating bankruptcy proceedings by lenders. Image source: Official website