Birla Tyres to be revived: NCLT approves resolution plan of Himadri and Dalmia Bharat

Dalmia Bharat Refractories and Himadri Speciality Chemicals to Revive Birla Tyres, Exceeding Liquidation Value

Expert Analysis:

• Dalmia Bharat Refractories and Himadri Speciality Chemicals successfully secured National Company Law Tribunal(NCLT) approval to revive ailing Birla Tyres, marking a significant milestone in the corporate insolvency resolution process.

• Their revival plan, valued at Rs 347.03 crore, is higher than the liquidation value of Rs 335.1 crore, demonstrating their commitment to financially reviving the troubled company.

• Birla Tyres had been admitted for corporate insolvency resolution due to its financial challenges, and this approval offers hope for the company's future.