The Business Standard reports that the creditors of Daewoo Motor India Ltd (DMIL), led by Industrial Development Bank of India (IDBI) and ICICI Bank, have approached domestic carmakers over acquiring assets of the ailing company.
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DMIL was left outside of the GM acquisition of Daewoo Motor Assets and the creditors have reportedly written to half-a-dozen (six) companies looking for interest in DMIL assets.
The article says that a large automobile maker has expressed interest in DMIL’s assembly line.
After it became clear that DMIL was left outside of the new GM Daewoo operation, lenders and DMIL have become engaged in legal battles over management rights and loan recovery.
