Debt-laden IVRCL, which is undergoing insolvency process, today said its resolution professional has sought resolution plans from potential applicants. Last date for submission of expression of interest(EoI) is May 24, 2018.
Resolution Professional Sutanu Sinha has published an advertisement today inviting resolution plans for the company, IVRCL said in a BSE filing.
Corporate Insolvency Resolution Process (CIRP) has been initiated against IVRCL as per provisions of Insolvency and Bankruptcy Code (IBC) by an order dated February 23, 2018 of National Company Law Tribunal.
The infrastructure company last December said it has entered a pact with Singapore-based Cube Highways and Infrastructure to sell its entire stake in two subsidiaries for Rs 726.18 crore.
IVRCL operations are diversified across various infrastructure segments including water and environment, irrigation, transportation, buildings and industrial structures, power distribution, among others.
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