M&A
Valecha Engg to be acquired by JK Solutions consortium for Rs.80-Cr
The National Company Law Tribunal (NCLT) has approved the acquisition of Mumbai-based, listed infrastructure firm Valecha Engineering by a consortium of JK Solutions Pvt Ltd and One Media Facility Management.The JK Solutions-led consortium has proposed to pay INR 79.52 crore to creditors against admitted liabilities of INR 2,869 crore. The financial creditors include JC Flowers Asset Reconstruction, State Bank of India, Axis Bank, Canara Bank, Indian Overseas Bank and Bank of Baroda.
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