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NCLT orders liquidation of power transmission parts firm Easun Reyrolle

The Hindu  

The National Company Law Tribunal (NCLT), Chennai, has ordered the liquidation of Easun Reyrolle, which is engaged in the business of providing power management products, systems and services, after no successful resolution plan was received by the lenders. In 2020, NCLT admitted the insolvency proceedings against the Chennai-based company in pleas filed by the State Bank of India and Canara Bank, which together claimed over INR 230 crore in dues along with interest and other charges. During that time, Easun Reyrolle noted that discoms owed the company about INR 103 crore. The committee of lenders have rejected a resolution bid by M/s Syed Fahad and M/s Greenergy Wind Corporation Limited and passed a resolution for liquidation of Easun Reyrolle.