Chemical
Shree Pushkar Chemicals to acquire MBPL
As per the transaction, the company is acquiring 100% stake in MBPL. The unit of MBPL located in Madhya Pradesh, has two plants at Jhabua and Deewanganj has a capacity to manufacture SSP of 1.5 Lac MTA and 0.4 Lac MTA, respectively, and a plant for manufacture of LABSA
- By ICN Bureau
| April 18, 2020
The Board of Directors of Shree Pushkar Chemicals & Fertilisers Ltd have approved the proposal of acquisition of 100% stake of Madhya Bharat Phosphates Private Limited (MBPL) through National Company Law Tribunal (NCLT), Ahmedabad Bench under the Insolvency & Bankruptcy Code, 2016.
The said proposal was approved by NCLT and the order was delivered on 5th March, 2020 against which the certified true copy of the order, dated 20th March, 2020, was received on 17th April, 2020 as informed by the company to the exchange.
As per the transaction, the company is acquiring 100% stake in MBPL. The unit of MBPL located in Madhya Pradesh, has two plants at Jhabua and Deewanganj has a capacity to manufacture SSP of 1.5 Lac MTA and 0.4 Lac MTA, respectively, and a plant for manufacture of LABSA.
Shree Pushkar Chemicals & Fertilizers Ltd., established in 1993 is into manufacturing of dyes, dye intermediates, and fertilizers. The company has recently ventured into manufacturing of reactive dyes and textile chemicals for the textile effects industry.
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