New Delhi, Sep 27 (PTI) Independent Sugar Corporation, an Uganda-based Madhvani Group firm, has announced the completion of its acquisition of debt-ridden glass manufacturer Hindustan National Glass & Industries through the Insolvency and Bankruptcy Code process.

On Friday, in a duly convened meeting of Hindustan National Glass & Industries Limited's (HNGIL) newly constituted board, the company formally recorded the conclusion of this transition, clearing the way for Independent Sugar Corporation Limited (INSCO) to assume full control.

The acquisition is led by industrialists Kamlesh Madhvani and Shrai Madhvani, with financial support from Cerberus Capital Management and the International Finance Corporation (IFC), INSCO, in a statement, said on Saturday.

The Rs 2,250 crore resolution p

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