Suraksha ARC set to lose race for distressed textile firm

Suraksha Asset Reconstruction Ltd is likely to have lost a bid to acquire a Maharashtra-based distressed textile company that was undergoing insolvency proceedings. The asset reconstruction company, part-owned by Sun Pharmaceutical Industries Ltd executive director Sudhir Valia, had bid for Kolhapur-based Maruti Cotex Ltd in a consortium with Aurangabad-based Manjeet Cotton ......