Meghmani Organics Limited (MOL) has informed that National Company Law Tribunal (NCLT), Kolkata Bench vide its order No: 1A (IB) No. 571/KB/2021 and |.A. (IB) No. 789/KB/2021 has approved the resolution plan of Kilburn Chemicals Limited (KCL). 

 

MOL is the successful resolution applicant in the subject matter and KCL shall be acquired by Meghmani Organics Limited under section 31 (1) of the Insolvency and Bankruptcy Code, 2016 through NCLT as per terms and conditions mentioned in the Resolution plan approved by NCLT. 

 

Kilburn Chemicals Limited is a manufacturer of pigment Titanium Dioxide (TiO2) at Dahej, Gujarat and had a FY2020-21 turnover of Rs. 102.23 lakhs. 

 

MOL is the largest manufacturer of Phthalocyanine pigment in India and this acquisition would give opportunity to increase its product basket by foray into manufacturing of new pigment Titanium Dioxide.