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To fund acquisition of Murli Ind via internal accruals & loans: Dalmia Bharat

The proposal of infusing Rs 402 crore for payments to lenders, creditors, workers and employees has now been recommended to NCLT for their approval, said Mahendra Singhi, Group CEO & Wholetime Director, Dalmia Bharat.

December 22, 2017 / 01:30 PM IST

Murli Industries creditors have approved acquisition plan submitted by Dalmia Bharat.

Throwing more light on the above development, Mahendra Singhi, Group CEO and Wholetime Director, Dalmia Bharat said they are happy that the bankers and creditors have shown full confidence in the company to buy Murli Industries.

The proposal of infusing Rs 402 crore for payments to lenders, creditors, workers and employees has now been recommended to NCLT for their approval and regulatory approval from government.

The funding for this will be through both internal accrual and loans, said Singhi. The payments will have happen post NCLT approval and other approvals for leasing mines etc.