 "cement, ACC, Ambuja cement")
Dalmia Cement (Bharat) and Sagar Cements have emerged as the top contenders to acquire Andhra Cements, which is undergoing bankruptcy process after it failed to repay its debt.
Banking sources said both companies have submitted their offers to the resolution professional and the committee of creditors is evaluating both offers. According to statistics submitted to the stock exchanges, Andhra Cements owes Rs 970 crore of debt to its lenders.
The company was acquired by Jaypee group in 2012, but failed to repay its debt after the entire Jaypee group started defaulting on loans since 2016. Andhra Cements — a separate
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