Jupiter Wagons buy CEEBCO through resolution

KOLKATA: Jupiter Wagons acquired Madhya Pradesh-based CEBBCO through resolution process at a cost of Rs 100-crore, a top company official said on Thursday. Director of Jupiter Wagons, Vivek Lohia said the company had bought the majority stake in CEBBCO which had gone to the NCLT for financial losses. "The company had been going through financial losses for some time for which it had gone to the NCLT. We have bought the stake from the banks through the resolution", Lohia said.