Schedule a Call Back
Salasar Techno acquires EMC Ltd via National Company Law Tribunal
Industry News- Mar 19,24
Salasar Techno has grown into a large EPC (Engineering, Procurement & Construction) organisation. It has completed large projects for both private and public sector enterprises
Delhi-based Salasar Techno Engineering, a leading engineering and infrastructure solution provider, has successfully bid for acquisition of EMC Limited (under liquidation). The acquisition was facilitated through an e-auction by the liquidator, as appointed by the National Company Law Tribunal (NCLT), Kolkata Bench.
According to a company statement, it emerged as the highest bidder in the auction held on 14 March, 2024 . It placed the highest bid amounting to Rs 178 crore.
"Salasar has been officially announced as the successful bidder and Letter of Intent has been issued by the Liquidator. This letter outlines the terms and conditions necessary to finalise the sale of the company as a going concern, including the balance sale payment by Successful Bidder as per the provisions of the Insolvency and Bankruptcy Code and the Liquidation Process Regulations," it said in a filing.
EMC Limited, formerly known as Electrical Manufacturing Company Limited, is a company limited by shares incorporated in 2010 under the provisions of the Companies Act, 1956.
Salasar Techno has grown into a large EPC (Engineering, Procurement & Construction) organisation. It has completed large projects for both private and public sector enterprises. The company specialises in offering turnkey EPC services for the Railway and Power sectors, along with designing and manufacturing telecom towers, monopoles and other heavy steel structures.
Recently, a joint venture of state-owned Rail Vikas Nigam Ltd (RVNL) and Salasar Techno bagged a transmission project worth around Rs 174 crore in Madhya Pradesh. While RVNL holds 51 per cent stake in the JV, Salasar Techno owns the remaining 49 per cent stake.
The order from Madhya Pradesh Power Transmission Company Ltd involves the construction of 132 KV (kilovolt) and 220 KV transmission lines and associated feeder bays on total turnkey basis in eastern part of the state. The project will be executed in 18 months.
Salasar Techno
EMC Limited
Rail Vikas Nigam
National Company Law Tribunal
Railway and Power sector
telecom towers
Related Stories
Electrical & Electronics
Salasar Techno acquires EMC Ltd via National Company Law Tribunal
Salasar Techno has grown into a large EPC (Engineering, Procurement & Construction) organisation. It has completed large projects for both private and public sector enterprises
Read moreElectrical & Electronics
Salasar Techno Engineering wins Rs 364 crore TANGEDCO contract
Notably, Salasar Techno Engineering reported a substantial 21.7 per cent increase in its net profit for the September quarter, amounting to Rs 9.06 crore.
Read moreRailways
India's first vertical lift railway bridge, New Pamban, nears completion
The new Pamban Bridge stands at 90% completion, with its foundation stone laid by PM Narendra Modi in 2019.
Read moreRelated Products
Servo Drives, Fully Digital
ELECTRICAL & ELECTRONIC EQUIPMENT
Bristol
Industrial Electronics offers optimum quality, fully digital servo drives.
Fluorescent Pigments for Traffic Cone
ELECTRICAL & ELECTRONIC EQUIPMENT
Aron Universal Limited offers a wide range of fluorescent
pigments for traffic cone.
D C Choke
ELECTRICAL & ELECTRONIC EQUIPMENT
Miracle Electronic Devices Pvt Ltd offers a wide range of D C choke.
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
