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AZB advises RIL, JM Financial on $740m Alok Industries insolvency bargain

“A recent amendment to India’s bankruptcy law has helped billionaire Mukesh Ambani’s Reliance Industries Ltd win approval from a lenders panel on a ₹5,050-crore resolution plan it had submitted jointly with JM Financial Asset Reconstruction Co Ltd for the debt-laden textile company Alok Industries Ltd,” reported Hindu Business Line about the insolvency deal.

AZB & Partners advised Reliance Industries Limited RIL and JM Financial Asset Reconstruction Company led by a team of partners Ashwath Rau, Suharsh Sinha and Atreya Bhattacharya, and senior associates Shriyani Datta.


Deal value: Not disclosed

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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