Shriniwas Spintex wins bid for Morarjee Textiles

Shriniwas Spintex Industries has emerged as the winning bidder for Morarjee Textiles with a ₹156 crore offer, despite pending debt claims of ₹892 crore. The resolution plan involves an upfront payment of 30%, with the remainder staggered over two years. Other bidders were disqualified under IBC's 29A regulations, leaving Shriniwas as the sole contender.