Sintex Plastics Says NCLT Appoints Kshitiz Chhawchharia As IRP

Sintex Plastics Technology Ltd. said the National Company Law Tribunal (NCLT) appointed Kshitiz Chhawchharia as an interim resolution professional (IRP) of the company.

The Ahmedabad bench of the NCLT passed the order on 21 February, Sintex Plastics said in a stock exchange announcement today.

Chhawchharia, a chartered accountant, has previously undertaken six assignments, according to the Insolvency and Bankruptcy Board of India (IBBI). He acted as the resolution professional for Crest Steel & Power Private Ltd., Ramsarup Industries Ltd., Tantia Constructions Ltd. and Concast Steel & Power Ltd.

The NCLT admitted Sintex Plastics into insolvency resolution after its financial creditor Asset Reconstruction Company (India) Ltd. filed an insolvency petition against the company for defaulting on a principal amount of 250 crore rupees ($30.19 million).

(Note: $1 = 82.7979 Indian rupees)

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