Sintex Plastics Creditors To Meet On Friday

Sintex Plastics Technology Ltd., which is currently undergoing corporate insolvency resolution process (CIRP), said its committee of creditors will meet on Friday.

The committee of creditors will meet on 11 August at 3:00 p.m., Sintex Plastics said in a stock exchange announcement. It didn’t disclose further details.

Sintex Plastics is undergoing CIRP since 21 February 2023 after the National Company Law Tribunal admitted its financial creditor Asset Reconstruction Company (India)’s petition against the company, claiming a default on a principal amount of 250 crore rupees ($30 million).

In July, the National Company Law Tribunal appointed Nimai Gautam Shah as Sintex Plastics’ resolution professional, after creditors earlier approved changing its Interim Resolution Professional Kshitiz Chhawchharia with another resolution professional.

(Note: $1 = 82.6993 Indian rupees)

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