Business Update - September 22, 2022

We are now pleased to inform that the Liquidator of ABG Shipyard Limited has declared Welspun as a successful bidder in terms of the Process Memorandum for the private sale of specified assets of ABG Shipyard Limited (in liquidation) under the provisions of the Insolvency & Bankruptcy Code, 2016 ('IBC').

5 days ago

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Sentiments detected

Positive 2
  • We are now pleased to inform that the Liquidator of ABG Shipyard Limited has declared Welspun as a successful bidder in terms of the Process Memorandum for the private sale of specified assets of ABG Shipyard Limited (in liquidation) under the provisions of the Insolvency & Bankruptcy Code, 2016 (“IBC”).

  • During this intervening period, we will endeavor to secure mandatory approvals and accreditations, including defense, international quality certifications, identifying global JV partner and select innovative technologies in the field of green steel, EV ships and offshore fabrication.

Negative 0

    Mentioned Phrases & Organizations

    Important keywords detected (20+)

    shipyard (9)
    liquidator (8)
    assets (7)
    welspun (7)
    abg (6)
    terms (6)
    ship (6)
    abg shipyard (6)
    order (5)
    specified (5)
    process (5)
    ibc (5)
    corp (5)
    specified assets (5)
    shipyard limited (5)
    abg shipyard limited (5)
    dated (4)
    time (4)
    memorandum (4)
    including (4)

    Organizations identified (9+)

    ABG Shipyard Limited (5)
    Welspun Corp Limited (5)
    IBC (4)
    Listing Department (1)
    WELCORP (1)
    Wholly Owned (1)
    Supreme Court (1)
    ABG (1)
    Welspun (1)

    Tables extracted (1)

    ParticularsAmount (in Rs. crore)
    Welspun Corp Limited589
    Nauyaan Shipyard Private Limited (leasehold land and building at Dahej)70

    Features are experimental.