Related Keywords: Alok Industries, textile company was among the 12 large stressed assets identified in June 2017
In December 2017 quarter, Alok Industries reported a net loss of Rs4,745 crore. Its total liabilities as on 31 December exceeded total assets by Rs13,891 crore.Lenders reject RIL and JM Financial’s bid for Alok Industries. The reason for rejection of Reliance Industries and JM Financial’s joint bid for Alok Industries and the next course of action for the bankrupt firm were not known immediately.For Alok Industries, the 270-day deadline prescribed under IBC to approve the resolution plan ended on 14 April
