Resolution Professional Seeks Expression Of Interest For Sintex Plastics

Sintex Plastics Technology Ltd.'s Resolution Professional Nimai Gautam Shah sought expression of interest (EoI) for the bankrupt company from potential suitors.

The last date to submit the EoI for the company is 30 August, Shah said in a public announcement. The EoI should be sent to cnjabd@gmail.com or rp.sintexplastics@outlook.com, he added.

The provisional list of prospective resolution applicants will be issued on 6 September, according to the announcement.

Last week, Sintex Plastics' creditors approved seeking an extension of 90 days from the Ahmedabad bench of the National Company Law Tribunal (NCLT) for the completion of company's corporate insolvency resolution process (CIRP).

The creditors also approved professional fees of the resolution professional.

Sintex Plastics is undergoing CIRP since 21 February 2023 after the NCLT admitted its financial creditor Asset Reconstruction Company (India)’s petition against the company, claiming a default on a principal amount of 250 crore rupees ($30 million).

(Note: $1 = 83.0068 Indian rupees)

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