Thank you for sharing. This also clarifies that Sintex Plastics is not owned by Welspun Corp, and what they have acquired is only Sintex-BAPL for 1,250 crore. Sintex Plastics is in the IBC process and its fate will be decided by the NCLT court.
The final verdict is that the losers here are Sintex Plastics’ creditors (with 141 crore in debt) and public investors. The promoters have already exited.
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