The bankruptcy court approves Helios Photo Voltaic Ltd, earlier known as Moser Baer Photo’s acquisition by OCL Iron & Steel Ltd through an insolvency resolution process. Helios Photo Voltaic manufactures solar energy equipment including optical media storage products, photovoltaic cells, thin film modules, panels and other electrical equipment products along with wires and cables.
“As per the resolution of the CoC (Committee of Creditors), the plan meets the requirement of being viable and feasible for the revival of the corporate debtor (Helios Photo Voltaic),” said a division bench of Justice Ramalingam Sudhakar and a technical member Avinash K. Srivastava in its order of January 22. “By and large, there are provisions for…
