Cosmic CRF declared Successful Resolution Applicant for Amzen Transportation
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Cosmic CRF received a Letter of Intent from the Resolution Professional of Amzen Transportation Industries Pvt Ltd after the Committee of Creditors approved its Resolution Plan, declaring it the Successful Resolution Applicant. Cosmic CRF will acquire 100 percent of Amzen, a railway wagon manufacturer. Total resolution amount is Rs 284 Crore, or NPV of Rs 266.57 Crore within 90 days. Approval is subject to NCLT order, with completion expected in 12 months from payment.
Strategic acquisition expands Cosmic CRF into railway wagon manufacturing with a Pan-India footprint. Positive for growth, but still subject to NCLT approval.