Lenders to invite bids for Hiranmaye Energy soon
Business Standard|April 12, 2024
West Bengal-based Hiranmaye Energy, which was admitted for insolvency in January this year, is hoping to tide over initial differences among some creditors to kick-start the resolution process soon.
RUCHIKA CHITRAVANSHI & SHREYA JAI

The lenders of the Hirnamaye Energy Limited (HEL) would invite bids for the beleaguered thermal power company in the ne: few weeks, sources said.

The company was admitted into insolvency on a petition filed by state owned non-banking financial company REC Ltd. The total debt of the thermal power company is to the tune of $2,000 crore.

The National Company Law Appellate Tribunal in March had set aside a petition by Bharat Heavy Electricals Limited (BHEL) seeking to halt REC from initiating insolvency proceedings against Hiranmaye Energy.

This story is from the April 12, 2024 edition of Business Standard.

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This story is from the April 12, 2024 edition of Business Standard.

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