Lenders to invite bids for Hiranmaye Energy in the next few weeks

BHEL had petitioned to halt the insolvency process of the project, citing its pending dues emerging from an arbitral award

West Bengal-based Hiranmaye Energy, which was admitted for insolvency in January this year, is hoping to tide over initial differences among some creditors to kick-start the resolution process soon. 

The lenders of the Hirnamaye Energy Limited (HEL) would invite bids for the beleaguered thermal power company in the next few weeks, sources said.

The company was admitted into insolvency on a petition filed by state owned non-banking financial company REC Ltd. The total debt of the thermal power company is to the tune of Rs 2,000 crore.

The National Company Law Appellate Tribunal in March had set aside a petition by Bharat Heavy