NCLT Greenlights Ramkrishna Forgings' Acquisition of ACIL

In a significant development, the National Company Law Tribunal (NCLT) in New Delhi has granted approval for Ramkrishna Forgings Ltd's resolution plan for the acquisition of ACIL Ltd. ACIL is a company specializing in the production of high-precision engineering automotive components.

As outlined in the stock exchange filing by Ramkrishna Forgings, the company intends to finance the acquisition through a combination of internal accruals and debt.

Lalit Kumar Khetan, Whole Time Director & CFO of Ramkrishna Forgings, expressed satisfaction with the NCLT's decision, stating, “We are pleased to announce the NCLT approval for the acquisition of ACIL Limited, a move that aligns seamlessly with our strategic growth objectives.”

He further elaborated on the strategic implications of the acquisition, noting, “This enhances our product offerings and strengthens our market presence, marking a significant milestone for Ramkrishna Forgings Limited. This synergy will not only strengthen our foothold in various industries but also broaden our collective capacity to cater to diverse global markets, fostering deeper and more impactful partnerships on an international scale.” The approval by NCLT positions Ramkrishna Forgings for strategic growth and an expanded global market presence.

HBL