News > Sagar Cement declared successful resolution applicant for Andhra Cements

Sagar Cement declared successful resolution applicant for Andhra Cements

Reports last year had indicated that Sagar Cement was the frontrunner to acquire Andhra Cements, which had also received expressions of interest from Jindal Poly, Dalmia Bharat and Khandwala Finstock Pvt. The National Company Law Tribunal had directed the initiation of insolvency proceedings against Andhra Cements in April last year. The direction came after Pridhvi Asset Reconstruction and Securitisation Company Ltd. filed a petition against Andhra Cements, claiming a default.