Billionaire Mukesh Ambani-led Reliance Industries Ltd and NRI entrepreneur Purnendu Chatterjee bought MCPI are among eight companies in the race to take over Surat-based yarn and polyester maker, Sumeet Industries.
These companies have officially submitted their interest along with supporting documents earlier this month and will be now scrutinised by the resolution professional before calling for formal bids for the company, documents accessed by The Economic Times showed.
Sumeet was admitted to the bankruptcy court in December last year after a failed attempt to restructure its loans.
American Tower Corp (ATC) is now looking at selling a majority stake in its wholly owned Indian unit after its recent bid to sell only a 50% stake failed to fetch takers.
The US tower company is learnt to have re-engaged with Canada’s Brookfield, which is evaluating a full buyout, people with knowledge of the matter told ET.
It has also held separate discussions with US infrastructure fund Stonepeak Partners and tapped Macquarie and KKR & Co through its advisers.