Pursuant to the SEBI circular no. SEBI/HO/CFD/CMD1/CIR/P/2019/140 dated 21st November, 2019 and as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ....
Awaiting price reaction for this filing.
ARSS Infrastructure Projects, which is already under Corporate Insolvency Resolution Process (CIRP) under the IBC 2016, has disclosed that its entire outstanding loan of approximately ₹1,627.88 crore (₹1,62,788.49 lakhs) from banks and financial institutions is in default as on 31 March 2025. The total admitted claims filed by financial creditors under the IBC process stand at roughly ₹4,940 crore (₹4,94,013.95 lakhs), which is significantly higher than the reported outstanding — reflecting accumulated interest, charges and differences in how lenders value the debt. Major creditors include CFM Asset Reconstruction (SBI), Invent Assets Securitisation (SREI Equipment Finance), CFM ARC (PNB), CFM ARC (Edelweiss ARC), IDBI Bank, Bank of India, ICICI Bank and Kotak Mahindra Bank. The disclosure has been signed jointly by the Managing Director and the Resolution Professional, confirming that the company continues to remain in the CIRP.
This is a routine regulatory disclosure confirming the company's distressed status — the entire debt is already in default and insolvency is ongoing, so there is no new negative surprise for shareholders, but recovery prospects for equity remain bleak until a resolution plan is approved and the admitted claims (much larger than the reported outstanding) are settled.