The acquisition secures creditor approval and advances to NCLT for finalization, with the objective of revitalizing the BK Birla group company through partial repayment of a Rs. 11,000 million loan.

Creditors of Birla Tyres Limited have greenlit Dalmia Bharat Limited's resolution plan for acquisition. The plan includes the partial repayment of Rs. 11,000 million of Birla Tyres' bank loans. Over 75 per cent of the company's creditors, led by Axis Bank, endorsed the plan, meeting the two-thirds majority requirement under the Insolvency and Bankruptcy Code.

The proposal aims to rejuvenate the tyre company, a part of the BK Birla group, known for its commercial and two-wheeler segment products. Dalmia Bharat's revised plan, targeting Rs. 3,000 million debt repayment, succeeded after its initial offer was rejected. The plan now heads to NCLT (National Company Law Tribunal) for final approval.