Adani, Suraksha among 6 Bidders for HDIL

The real estate firm Housing Development and infrastructure (HDIL) has received six expressions of interest (EoIs) from suitors, including Adani Properties, Suraksha Asset Reconstruction and Sunteck Realty. The bidders need to submit a final resolution plan by September 7, 2020. Adani Properties, Suraksha Realty and Sunteck Realty have been shortlisted as prospective resolution applicants after meeting eligibility criteria. Adani Properties and Suraksha group had earlier participated in the insolvency resolution process of Jaypee Infratech. The eligibility criteria for bidders included minimum net worth of Rs 500 crore, among others. HDIL is undergoing insolvency proceedings at National Company Law Tribunal (NCLT), Mumbai. The real estate player owes Rs 6,840 to financial creditors. PMC Bank has admitted claims of Rs 1,845 crore from HDIL. Similarly, Bank of India has claims of Rs 566 crore and Yes Bank has Rs 495 crore claims towards HDIL.