MUMBAI: The insolvency professional supervising the Alok Industries bankruptcy process has called for fresh bids to resolve the Rs 29,000-crore default in the hope of attracting more bidders for the textile company, said two people with knowledge of the matter.
“Alok was the only company among the 12 listed by Reserve Bank of India (RBI) to be referred to bankruptcy that did not receive any bids when the insolvency professional invited expressions of interest (EoIs),” said one of the two.
“Therefore, it was decided to go for a fresh round of bidding for the company.” The last date for EoI submissions had been October 12.
ET had reported in early November, after the deadline was over, that Reliance Industries may be int…
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