Ballarpur Industries Limited (BILT), one of India’s oldest paper manufacturers which emerged from a three-year long corporate insolvency resolution plan, is set for a turn around. The new management under Finquest Financial Solutions Private Limited has demonstrated its commitment to turning around the company through substantial capital infusion.
According to the annual report of the company, FFSPL, the new holding company, has provided short-term loans of ₹78 crore for capital expenditure and working capital. Additionally, Rs 20 crore was raised through the issuance of unlisted NCDs to the holding company and a director. BILT has already invested ₹83 crore in capital work in progress, aimed at restarting…