Bombay Rayon Resolution Professional Seeks Fresh Bids

The resolution professional of Bombay Rayon Fashions Ltd. sought fresh expression of interest (EoI) for the bankrupt company from potential suitors.

The last date to submit the EoI is 13 February, the Indian textile manufacturer’s Resolution Professional Satish Kumar Gupta said in a statement. The provisional list of prospective resolution applicants will be released on 22 February, he added.

The EoI should be sent to brflcirp@gmail.com, according to the statement.

The creditors of the company, which didn't get any EoI from suitors in the previous attempt in October 2022, recently extended its corporate insolvency resolution process (CIRP) period by 90 days.

The National Company Law Tribunal (NCLT) initiated the CIRP against the Mumbai-based company on 7 June 2022 following an application filed by Vikash Parasrampuria, sole proprietor of Charanjilal Yarn Traders.

Majority of the fixed assets of the company are located in Tarapur in the western state of Maharashtra and Bengaluru in the southern Indian state of Karnataka.