Several companies, including Reliance Industries and MCPI, have expressed interest in acquiring debt-laden textile manufacturer Sumeet Industries, according to documents seen by ET.
The eight bidders have submitted interest and supporting documents, which will now be scrutinised by the resolution professional before formal bids are invited.
Sumeet, a Surat-based polyester and yarn maker, owes a total of INR6.67bn ($89m) to lenders and operational creditors led by Bank of Baroda.
The firm was admitted to bankruptcy court in December 2022 following a failed attempt to restructure its loans.
