Dilip Shanghvi-promoted Sun Petrochemicals Pvt. Ltd has bid for the assets of debt-ridden Assam Co. India Ltd (ACIL), two people aware of the development said. Kolkata-based ACIL is India’s oldest tea company, and has businesses in infrastructure and oil and gas. Last October, the Guwahati bench of the National Company Law Tribunal (NCLT) had ordered commencing insolvency resolution of ACIL.
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