Liberty House Limited cancelled the acquisition of the assets from Amtek Auto Limited.

Liberty House Limited agreed to acquire the assets from Amtek Auto Limited (BSE:520077) for INR 32.3 billion on March 6, 2018. Under the terms, Liberty House Limited emerged as a preferred H1 bidder for the assets which include 35 automotive component plants across India, Japan, Thailand and Spain. The transaction is subject to the approval of National Company Law Tribunal. Ernst & Young Private Limited acted as an accountant and Grant Thornton India LLP, Corporate Finance Arm acted as a financial advisor to Amtek Auto Limited. Dinkar T. Venkatasubramanian, Partner at EY acted as a resolution professional in the transaction. On July 25, 2018, National Company Law Tribunal, Chandigarh approved the transaction. As of November 6, 2018, Competition Commission of India has approved the transaction. As of November 19, 2018, a joint meeting of lenders and the members of the Monitoring Committee was held where it is decided that the Monitoring Committee will file an application before the Adjudicating Authority to seek directions on the way forward. including but not limited to, seeking additional time to identify new resolution applicants for Amtek Auto Limited. Liberty House Limited cancelled the acquisition of the assets from Amtek Auto Limited (BSE:520077) on September 3, 2019.