The case involves an application (IA/335(AHM)2025) filed by Durgesh Infrastructure Private Limited, Atreyi Vincom Private Limited, Unicon Suppliers Private Limited, and Eastern Mercantile Private Limited (collectively, the Applicants) before the National Company Law Tribunal (NCLT), Ahmedabad. The Applicants sought permission to forgo a specific relief granted in a prior order (IA/1338(AHM)2024) dated 08.11.2024, which mandated the listing of new equity shares of Sintex Plastic Technology Limited with a 5% public shareholding. The Applicants also requested that the extinguished shares be deemed automatically delisted. The initial order stemmed from the corporate insolvency resolution process (CIRP) of Sintex Plastic Technology Limited, followed by its liquidation, and
…1. Durgesh Infrastructure Private Limited, Atreyi Vincom Private Limited, Unicon Suppliers Private Limited, and Eastern Mercantile Private Limited (the Applicants) acquired Sintex Plastic Technology Limited as a going concern through an e-auction during its liquidation process.
2. The Corporate Debtor, Sintex Plastic Technology Limited, was admitted into CIRP and subsequently faced liquidation.
3. Bimal Desai was appointed as the Liquidator for Sintex Plastic Technology Limited.
4. The Liquidator issued an e-auction notice on 21.06.2024, offering the Company's assets for sale, including the option to acquire the Company as a going concern.
5. The Applicants were declared successful bidders on 22.06.2024, with a bid of Rs. 20.63 crores.
6. The Applicants fulfilled their
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The initial Corporate…
Sintex Plastic…
The case involves an application (IA/335(AHM)2025) filed by Durgesh Infrastructure Private Limited, Atreyi Vincom Private Limited, Unicon Suppliers Private Limited, and Eastern Mercantile Private Limited (collectively, the Applicants) before the National Company Law Tribunal (NCLT), Ahmedabad. The Applicants sought permission to forgo a specific relief granted in a prior order (IA/1338(AHM)2024) dated 08.11.2024, which mandated the listing of new equity shares of Sintex Plastic Technology Limited with a 5% public shareholding. The Applicants also requested that the extinguished shares be deemed automatically delisted. The initial order stemmed from the corporate insolvency resolution process (CIRP) of Sintex Plastic Technology Limited, followed by its liquidation, and
…1. Durgesh Infrastructure Private Limited, Atreyi Vincom Private Limited, Unicon Suppliers Private Limited, and Eastern Mercantile Private Limited (the Applicants) acquired Sintex Plastic Technology Limited as a going concern through an e-auction during its liquidation process.
2. The Corporate Debtor, Sintex Plastic Technology Limited, was admitted into CIRP and subsequently faced liquidation.
3. Bimal Desai was appointed as the Liquidator for Sintex Plastic Technology Limited.
4. The Liquidator issued an e-auction notice on 21.06.2024, offering the Company's assets for sale, including the option to acquire the Company as a going concern.
5. The Applicants were declared successful bidders on 22.06.2024, with a bid of Rs. 20.63 crores.
6. The Applicants fulfilled their
The initial Corporate…
Sintex Plastic…