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NCLT approves J Kumar Infraprojects’ Rs.45-Cr bid for Pranav Construction

Economic Times  

The National Company Law Tribunal (NCLT) has approved listed infrastructure firm J Kumar Infraprojects’ bid to acquire Pranav Construction Systems Pvt Ltd.J Kumar Infraprojects has proposed to pay INR 45 crore for the acquisition of the real estate firm against its admitted liabilities of about INR 212 crore. Before the tribunal’s nod, the lenders to the company had approved the revival plan, with 100% voting in its favour.