Around 15 companies, including Vedanta Ltd., Refex Industries Ltd. and Jindal Power Ltd. have shown interest in resolving the debt and operations of distressed electric vehicle firm BluSmart Electric Mobility as part of its insolvency resolution process, people aware of the matter told NDTV Profit.
While multiple companies initially reviewed the assets of BluSmart, a final list of prospective resolution applicants is now expected to submit resolution plans by early December, one of the abovementioned people explained on the condition of anonymity.
In a corporate insolvency resolution process, a prospective resolution applicant is an entity that expresses interest in submitting a plan to resolve the debts and operations of the…