Technical News: Page 3
12,000 employees lose jobs of bankrupt, Alok Industries:
A Delhi Based Firm, Alok Industries heading into likely liquidation, Basicially textile industry.
If they feel that an offer does not meet their expectations, they refuse to approv the resolution plan and the company goes into liquidation.
Hundreds of small vendors and service providers to the company would also be affected. Reliance industries is in the intention to acquire the same. It is under proposal.
About 2 lakh equity shareholders, including public financial institutions and retail investors, also staring at losses with the company heading into liquidation.
There are 81 companies that have already gone into liquidation. More than 100 other companies facing insolvency processes according to Corporate Professionals.
Wishing you all the best,