Authum Investment & Infrastructure Ltd. (BSE: 539177, NSE: AIIL) has been declared the Successful Resolution Applicant (SRA) for Vas Infrastructure Limited (VIL), a BSE-listed real estate firm undergoing Corporate Insolvency Resolution Process (CIRP) since 11 March 2024. The company accepted a Letter of Intent (LOI) dated April 01, 2025, from the Resolution Professional, subject to approvals from the National Company Law Tribunal (NCLT), Mumbai Bench.
Key Details:
- Deal Value: Rs. 86.04 crore for 94.99% equity post-capital reduction under the resolution plan.
- Target Business: VIL specializes in redeveloping dilapidated buildings in Mumbai suburbs but reported negative turnover of Rs. 0.42 crore in…
