Asset Reconstruction Company (India) Limited Vs ACCIL Corporation Private Limited (NCLT Jaipur)
Background and CIRP Proceedings
Asset Reconstruction Company (India) Limited (ARCIL), a financial creditor of ACCIL Corporation Private Limited, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016. The NCLT Jaipur admitted the petition on 15.10.2025, commenced the Corporate Insolvency Resolution Process (CIRP), and appointed Ajay Kumar Atolia as Interim Resolution Professional (IRP).
A public announcement was issued on 17.10.2025 inviting claims from creditors. The Committee of Creditors (CoC) was constituted with three secured financial creditors: ARCIL, Prudent ARC Limited and Central Bank of India. At its first meeting on 12.11.2025, the CoC resolved to replace the IRP with Chandra Prakash as Resolution Professional (RP), whose appointment was subsequently confirmed by the NCLT on 25.11.2025.
The RP issued the Request for Resolution Plans (RFRP), Evaluation Matrix and Information Memorandum to eligible prospective resolution applicants. Five applicants submitted resolution plans: Gama Leasing and Developers Private Limited, Fleur Hotels Limited, Oriental Structural Engineers Private Limited (OSEPL), CN Infrabuild LLP and Gland Celsus Bio Chemicals Pvt. Ltd.
Selection of Successful Resolution Applicant
The resolution applicants participated in seven rounds of bidding. Oriental Structural Engineers Private Limited emerged as the highest bidder at the conclusion of the process with a Total Weighted Value of Net Present Value of INR 267.46 crore, while Fleur Hotels Limited’s final offer stood at INR 256.14 crore.
