MCPI Polyester Private Limited agree to acquire Garden Silk Mills Limited for INR 25 billion on September 18, 2020. The Proposed Combination is proposed to be undertaken as GSML is facing operational/ financial difficulties resulting in its inability to repay a significant debt owed to the creditors and n, MCPI will be able to repay the outstanding debts owed to the creditors of GSML, thereby preventing its liquidation and keeping the economic momentum steady. On September 18, 2020, CCI approves MPCI acquisition of GSML. Committee of Creditors conducted meeting on October 28, 2020 and finalized the final claim which need to be settle down by company to creditor. On 1 January 2021, documents was submitted to NCLT was approved for the transaction. The delisting of shares shall be applicable to shareholders of corporate debtor. The corporate debtor shall stand converted from public company to private company. Steering Committee was set up to oversee the effective implementation of the Resolution Plan. Garden Silk Mills Limited shall be delisted from BSE Limited and National Stock Exchange of India Limited in accordance with the order of the NCLT. shares were delisted from the Exchange records from February 08, 2021 AZB & partners acted as Solicitors and administrator in Transaction. KFin Technologies Private Limited acted as registrar to Garden silk. haitan & Co has also advised MCPI, a member of The Chatterjee Group.