NCLT Court Order for AMW Motors’ Bhuj Plant Came Out In Favour of Triton EV
According to the court’s order of December 2022, Triton EV’s bid is getting considered for the acquisition of AMW Motors’ Bhuj Plant.
The NCLT’s Ahmedabad bench has released an order regarding AMW Motors’ Bhuj-Manufactuing Plant. The latest order indicates the court’s approval for the resolution plan which has Triton EV’s bid to acquire the plant.
According to the court’s order of December 2022, Triton EV’s bid is getting considered for the acquisition of AMW Motors’ Bhuj Plant. Well, it is also getting considered that Triton EV’s prompt efforts towards this acquisition bid have emerged as the driver for this acquisition.
After getting the court’s order, our editorial team approached Mr Himanshu Patel, Managing Director and Founder of Triton EV and he confirmed by saying, “Yes, we are delighted to see the court’s order and now we are working on following all the necessary guidelines to make the plant operational at the earliest possible timeframe.”
The copy of the court’s verdict is picked up from here.
Once the legal process is completed the plant will become operational as Triton EV’s manufacturing hub which will eventually become Asia’s biggest EV manufacturing hub. This hub will produce EV Busses, EV Trucks, EV Cars and Hydrogen buses as well. Apart from this, the manufacturing hub will become India’s one of the largest employers in EV and Clean-Fuel-Run vehicles.
DISCLAIMER: The above mentioned article is prepared on this case law only for sharing information and knowledge with the readers. The views expressed are personal and same should not be taken as professional advice. In case of necessity do consult with professionals for more clarity and understanding of subject matter.