Creditors of KSK Energy Ventures pass a resolution for its liquidation

The Committee of Creditors of independent power company KSK Energy Ventures Limited has recommended liquidation of the company after the failure to secure any resolution plan under the insolvency procedure.

During a recent meeting, the Committee of Creditors of the company passed a resolution through electronic voting to proceed with the liquidation of the company as it “has not received any expression of Interest (EoI) from any prospective resolution applicant till date even after seeking EoI twice.”

Ranjith Kumara Shetty, Company Secretary, in a statement to the BSE informed, “The Resolution Professional of the company is in the process of filing application for liquidation under Section 33 (1) (a) of Insolvency and Bankruptcy Code 2016 (IBC) with the National Company Law Tribunal (NCLT), Hyderabad.”