Bombay Rayon Fashions Creditors To Meet Today

Bombay Rayon Fashions Ltd. said its committee of creditors will meet today to discuss the company’s corporate insolvency resolution process (CIRP).

The creditors will meet at 3:30 p.m. through online mode to discuss various agenda items related to the CIRP, Bombay Rayon said in a stock exchange announcement.

In March 2023, Bombay Rayon’s Resolution Professional Satish Kumar Gupta said a total of 13 suitors, including Arvind Ltd. and GBTL Ltd., were provisionally eligible to acquire the bankrupt company.

The National Company Law Tribunal initiated the insolvency resolution against the Mumbai-based company on 7 June 2022 following an application filed by Vikash Parasrampuria, sole proprietor of Charanjilal Yarn Traders.

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