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AGI Greenpac seeks review as India's top court blocks acquisition of HNG

By Freny Patel ( February 14, 2025, 00:24 GMT | Insight) -- AGI Greenpac has filed a review petition with India's top court, challenging its recent judgment that rejected its resolution plan to acquire debt-ridden glass manufacturer Hindusthan National Glass & Industries. It argued that the Supreme Court of India's ruling — which hinged on the timing of the merger approval in insolvency proceedings — should be applied prospectively, not retrospectively. The ruling could impact numerous past and current insolvency cases. AGI Greenpac has filed a review petition with India's top court, challenging its recent judgment that rejected its resolution plan to acquire debt-ridden glass manufacturer Hindusthan National Glass & Industries, or HNG....

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