Beaufond Limited Qualifies for bidding under Resolution Process of ‘Asian Colour Coated Ispat Limite

Dubai, Feb 12, 2019 ( – Beaufond Ltd a Difc Company, today announces that it has received a right to bid, from the Insolvency Professional by the Insolvency & Bankruptcy Board of India appointed by NCLT, Delhi, for the Resolution Process of Asian Colour Coated Ispat Limited (ACCIL), under Insolvency and Bankruptcy code 2016 of India. ACCIL is the largest strategically located manufacturing plants to cater to the large demand centre of India producing Hot Rolled Pickled & Oiled, Cold Rolled Full Hard, Galvanised Plain and Corrugated, colour coated Sheets and Coils of Iron, with an installed capacity of 650,000 MTPA of CR Galvanising, 780,000 MTPA of Pickling and 130,000 MTPA of Colour Coating. ACCIL is a multimillion turnover company, with debt resolution of more than  725.00 Million Usd, it has two plants located in Northern and Western parts of India.

Commenting, Mr Vikram Motwani, Managing Director & CEO, said:

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If Beaufond qualifies in the final round it shall give Beaufond Limited a foothold in the fastest Galvanised and Colour Coated Steel market in South Asia.

About: Beaufond Limited.

Beaufond Limited a Global company registered at DIFC Dubai has evolved into a marketleading international businesses, with operation across six continents, and the businesses that touch the lives of millions across the Globe, it enjoys a dominant position in the various business segments that it operates.

Email: [email protected], Phone No. +97142517000.Contact Person: Mr R. Kamat, Company Secretary.

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