INSCO Acquires Hindustan National Glass & Industries

• Independent Sugar Corporation Limited (INSCO), part of Uganda-based Madhvani Group, has completed the acquisition of Hindustan National Glass & Industries Limited (HNGIL).

• The acquisition, led by industrialists Kamlesh Madhvani and Shrai Madhvani, was approved by the National Company Law Tribunal (NCLT) on August 14, 2025.

• The ₹2,250 crore Resolution Plan has also received approvals from the Reserve Bank of India (RBI) and the Competition Commission of India (CCI).

• A 45-day Monitoring Phase was carried out to oversee transitional matters and ensure a smooth handover.

• The transaction concludes one of India’s most high-profile insolvency cases after seven years of litigations and a Corporate Insolvency Resolution Process (CIRP) that began in October 2021.

INSCO Hindustan Glass Acquisition is important topic for Civil service exam (WBCS).

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