Nitin Fire Protection Industries Limited — Important, 18-06-2025: General Updates

Nitin Fire Protection Industries Ltd has been acquired as a going concern by Silver Stallion Limited Consortium for ₹35.16 Cr through liquidation. The tribunal confirmed the sale, extinguishing all past liabilities not included in the sale as per IBC norms, granting the buyer a "clean slate" from prior debts and claims, except certain statutory dues. The buyer must handle property taxes and maintenance dues post-sale, while the liquidator will assist in operational handover, title deed transfer, and statutory compliance filings. Accounting entries for smooth transition are allowed. Statutory authorities will independently address reliefs and concessions requested by the buyer.