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
Salasar Techno acquires EMC Ltd via National Company Law Tribunal

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.

Related Stories

Electrical & Electronics
Salasar Techno acquires EMC Ltd via National Company Law Tribunal

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 more
Electrical & Electronics
Salasar Techno Engineering wins Rs 364 crore TANGEDCO contract

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 more
Railways
India's first vertical lift railway bridge, New Pamban, nears completion

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 more

Related Products

78 Series Din Rail Terminal Blocks

ELECTRICAL & ELECTRONIC EQUIPMENT

Werner Electric Private Limited offers a wide range of 78 series din rail terminal blocks.

Read more

Request a Quote

Mig Welding Torches

ELECTRICAL & ELECTRONIC EQUIPMENT

ATE Welding Engineering Robotics & Automation offers MIG welding torches. Read more

Request a Quote

Puma Lift Electric Stacker

ELECTRICAL & ELECTRONIC EQUIPMENT

Puma Lift Trucks Pvt Ltd offers a wide range of puma lift electric stacker.

Read more

Request a Quote

Hi There!

Now get regular updates from IPF Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Industrial News on Whatsapp! Enjoy

+91 84228 74016