Apparel company Provogue is being acquired by Rajkot-based investment firm Plutus Investments and Holding Private Limited for under Rs.100 crore, according to an order delivered by the national company law tribunal (NCLT).The company is being acquired as a going concern after NCLT ordered its liquidation way back in October 2019.Protracted litigation resulted in delays in the final outcome of its insolvency proceedings.At the pre-liquidation stage, the company had received resolution plans from Donear and a consortium involving its former promoters, Nikhil Chaturvedi and Salil Chaturvedi.However, the company’s creditors rejected both resolution plans forcing it into liquidation.The…
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