IVRCL RP seeks EoI from potential 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.

Written by FE Bureau

Hyderabad

May 10, 2018 04:58 IST

Debt-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.

This article was first uploaded on May ten, twenty eighteen, at fifty-eight minutes past four in the morning.