IVRCL RP seeks EoI from potential applicants

By: | Published: May 10, 2018 4:58 AM

The company is facing insolvency proceedings after it was taken up for a Corporate Insolvency Resolution Process under the provisions of the Insolvency and Bankruptcy Code, 2016.

IVRCL, RP, IBC, NCLTDebt-laden IVRCL, which is undergoing insolvency process, said that its resolution professional (RP) has invited expression of interest (EoI) from potential resolution applicants. (Website)

Debt-laden IVRCL, which is undergoing insolvency process, said that its resolution professional (RP) has invited expression of interest (EoI) from potential resolution applicants.  The company is facing insolvency proceedings after it was taken up for a Corporate Insolvency Resolution Process under the provisions of the Insolvency and Bankruptcy Code, 2016.

The last date for submission of expression of interest is May 24, 2018, RP Sutanu Sinha said in a BSE filing.
The Corporate Insolvency Resolution Process has been initiated against IVRCL as per the provisions of Insolvency and Bankruptcy Code (IBC) by an order dated February 23, 2018 of National Company Law Tribunal (NCLT). The company owes over Rs 13,000 crore to banks and NBFCs.

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