ARS Energy Private Limited, the owner of a 60 MW thermal power plant in Gummidipundi, has been admitted into the Corporate Insolvency Resolution Process (CIRP). The resolution professional, Ramanathan Bhuvaneshwari, has called for expressions of interest (EoI) from potential buyers, highlighting the company’s primary asset: a significant parcel of freehold land.
According to the public invitation (Form G), the corporate debtor’s power plant has been non-operational since March 2022. The primary attraction for investors is likely the substantial real estate associated with the company. The plant itself is situated on approximately 63 acres of freehold land near Chennai. Additionally, the company owns another 15 acres…