India’s Ramakrishna Forgings Limited (RFL) has secured approval from the National Company Law Tribunal (NCLT) for the acquisition of ACIL Limited, through the bankruptcy resolution process, a company regulatory filing said on Monday, December 25.
RFL said that the acquisition of ACIL Limited, a manufacturer of high precision steel components for automobile sector, will be funded through a mix of internal accruals and debt.
“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,” RFL director, Lalit Khetan said.