This is a very proud moment for GFG Alliance and for my family, said Sanjeev Gupta on the Liberty House emerging as the highest bidder for Amtek Auto. Photo: Shendrew Balendran/MintNew Delhi: Liberty House, part of Sanjeev Gupta’s global industrial group GFG Alliance, on Wednesday said it has emerged as the successful highest bidder for Amtek Auto Ltd, paving the way for the former’s entry into the Indian market. The announcement of Liberty as the successful preferred bidder was made in the committee of creditors meeting held Tuesday and confirmed by the insolvency resolution professional on Wednesday. This follows the corporate insolvency resolution process of Amtek Auto which began on 24 July 2017. This business will be the cornerstone of our strategy...and expand our footprint in the automotive sector worldwide.”“We look forward to working closely with the high calibre customer base Amtek Auto enjoys.

Source: Mint March 07, 2018 16:41 UTC