Hindustan Copper Ltd (HCL) has taken over the assets of the Jhagadia Copper Ltd (JCL).
In a disclosure to the stock exchange, HCL said that the company has bought the assets, both moveable and immovable, of JCL, which was in liquidation, through auction from Asset Reconstruction Co (India) Ltd (ARCIL) for an undisclosed amount.
The unit is not in operation for over five years.
The Gujarat High Court has confirmed the sale of the secured assets of JCL.
However, the sale proceed is yet to be confirmed by the High Court.