ACEL okays its amalgamation with Gujarat Ambuja Cements
WEBSep 18, 2006 · ACEL was set up in 1982 as Modi Cement Ltd. The company became sick industrial unit in 1994 and was referred to the BIFR. Pursuant to a sanctioned scheme of BIFR, Gujarat Ambuja Cement Ltd infused funds into the company by way of fresh equity as a copromoter in December, 1997. Later, the name of the company was changed to .