Coffee Day Enterprises promoted Sical Logistics received four firm bids during insolvency proceedings

Posted by : admin / On : 15 Jan 2022

According to persons familiar with the situation, lenders of Sical Logistics NSE 3.88 percent Ltd, a subsidiary of listed Coffee Day Enterprises, received four firm proposals, with Ambey Mining and Pristine Malva Logistics making the biggest offers individually. Agrigo Trading Pvt Ltd and Winwind Power Energy Pvt Ltd are the other two bidders, according to the sources. Lenders are aiming to recoup at least a quarter of their debts from the company, which has been in financial trouble since the tragic death of entrepreneur VG Siddhartha in July 2019. Only four firms presented concrete resolution plans, despite the fact that Sical Logistics received 26 expressions of interest. Financial creditors have agreed to pay Rs 1,561 crore in claims. SV Ramkumar, the companys resolution expert, did not respond to a request for comment.

According to persons familiar with the situation, lenders of Sical Logistics NSE 3.88 percent Ltd, a subsidiary of listed Coffee Day Enterprises, received four firm proposals, with Ambey Mining and Pristine Malva Logistics making the biggest offers individually. Agrigo Trading Pvt Ltd and Winwind Power Energy Pvt Ltd are the other two bidders, according to the sources. Lenders are aiming to recoup at least a quarter of their debts from the company, which has been in financial trouble since the tragic death of entrepreneur VG Siddhartha in July 2019. Only four firms presented concrete resolution plans, despite the fact that Sical Logistics received 26 expressions of interest. Financial creditors have agreed to pay Rs 1,561 crore in claims. SV Ramkumar, the companys resolution expert, did not respond to a request for comment.