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Reputation: 642,713 • Dec 7, 2023 6:11 AM

Bil Energy enters liquidation as it fails to get any revival plan

Last year in December, the Mumbai-based power sector equipment manufacturer was admitted under the corporate insolvency resolution process (CIRP) in an application filed by the State Bank of India after it defaulting on its dues of about Rs 167 crore.

The Economic Times

𝗡𝗲𝘄𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆
• Bil Energy System Ltd. has been admitted for liquidation by the bankruptcy court after no viable revival plan was offered to the lenders.
• The company's assets are untraceable and it has not been a going concern for the last three years.
• The decision of the CoC to initiate liquidation has been challenged by one of the bidders, Mayank Goyal.
https://economictimes.indiatimes.com/industry/energy/powe...
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