Sintex Plastics IRP Seeks Claim Details From Creditors

Sintex Plastics Technology Ltd.’s interim resolution professional (IRP) is seeking claim details from the bankrupt company’s creditors.

The creditors must submit their claims with proof by 13 March, IRP Kshitiz Chhawchharia said in a public announcement. The e-mail to be used for correspondence with the IRP is rp.sintexplastics@outlook.com, he added.

The Ahmedabad bench of the National Company Law Tribunal (NCLT) ordered the commencement of a corporate insolvency resolution process (CIRP) against Sintex Plastics on 21 February and appointed Chhawchharia as the IRP of the company.

The development came after the company’s financial creditor Asset Reconstruction Company (India) Ltd. took Sintex Plastics to the NCLT for defaulting on a principal amount of 250 crore rupees ($30.24 million).

The company’s CIRP is likely to be completed by 20 August, according to the announcement.

(Note: $1 = 82.6774 Indian rupees)

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