Maharashtra Seamless on Tuesday said the Hyderabad Bench of the National Company Law Tribunal approved the Resolution Plan submitted by it for the acquisition of United Seamless Tubulaar Pvt Ltd.
The company initiated the acquisition of USTPL through the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code 2016. The stock of Maharashtra Seamless jumped 2.45 per cent at ₹497.85 on the BSE.