Prominent players eye Renaissance Indus Infra in insolvency bidding

06 Sep 2023 CW Team

Within the Renaissance Group, two distinct special-purpose vehicles, overseen by promoter Mayur Suchak, are currently navigating insolvency challenges. The first, Renaissance Indus Infra, focuses on warehousing and industrial development in the vicinity of Bhiwandi, Mumbai, while the second, Renaissance Urban Infra, is involved in infrastructure development and the creation of industrial smart cities.

Additionally, other noteworthy contenders, such as IIFL Facilities Services, Authum Investment and Infrastructure (which recently acquired assets from Reliance Home Finance and Reliance Commercial Finance), and JC Flowers Asset Reconstruction Company (known for its acquisition of Yes Bank's distressed assets portfolio worth Rs 480 billion), have also submitted expressions of interest (EoI), as confirmed by one of the individuals mentioned earlier.

It's worth noting that Clearwater Capital Partners Singapore Fund and Catalyst Trusteeship are the sole creditors for the special-purpose vehicles within the Renaissance Group that have been admitted for corporate insolvency proceedings. Ares SSG Capital serves as the exclusive bondholder, with catalyst acting as the debenture trustee.

Despite the National Company Law Tribunal admitting both cases separately, the lenders are actively working on a group resolution plan. Birendra Kumar Agarwal is the Resolution Professional (RP) overseeing both special-purpose vehicles.

As per disclosures on the Insolvency and Bankruptcy Board of India's website, the RP has acknowledged claims amounting to Rs 10.97 billion for Renaissance Indus and Rs 11.18 billion for Renaissance Urban.

According to informed sources, several prominent entities, including Adani Logistics, the JSW Jaigarh Port owned by Sajjan Jindal, the TVS Group, and the Welspun Group, have expressed keen interest in participating in the bidding process for Renaissance Indus Infra. This company specialises in warehouse and industrial park development and is currently undergoing insolvency proceedings.Within the Renaissance Group, two distinct special-purpose vehicles, overseen by promoter Mayur Suchak, are currently navigating insolvency challenges. The first, Renaissance Indus Infra, focuses on warehousing and industrial development in the vicinity of Bhiwandi, Mumbai, while the second, Renaissance Urban Infra, is involved in infrastructure development and the creation of industrial smart cities.Additionally, other noteworthy contenders, such as IIFL Facilities Services, Authum Investment and Infrastructure (which recently acquired assets from Reliance Home Finance and Reliance Commercial Finance), and JC Flowers Asset Reconstruction Company (known for its acquisition of Yes Bank's distressed assets portfolio worth Rs 480 billion), have also submitted expressions of interest (EoI), as confirmed by one of the individuals mentioned earlier.It's worth noting that Clearwater Capital Partners Singapore Fund and Catalyst Trusteeship are the sole creditors for the special-purpose vehicles within the Renaissance Group that have been admitted for corporate insolvency proceedings. Ares SSG Capital serves as the exclusive bondholder, with catalyst acting as the debenture trustee.Despite the National Company Law Tribunal admitting both cases separately, the lenders are actively working on a group resolution plan. Birendra Kumar Agarwal is the Resolution Professional (RP) overseeing both special-purpose vehicles.As per disclosures on the Insolvency and Bankruptcy Board of India's website, the RP has acknowledged claims amounting to Rs 10.97 billion for Renaissance Indus and Rs 11.18 billion for Renaissance Urban.

Products

13 May 2026

Kerakoll Launches -Garv Se Growth- for Contractors

Kerakoll India has launched ‘Garv Se Growth’, a campaign aimed at recognising, rewarding and supporting India’s contractor and mason community engaged in tile and stone laying work.The initiative brings together a series of loyalty-led programmes focused on professional growth, recognition and welfare support for contractors and craftsmen associated with the brand.According to the company, the campaign is built around two themes — pride in craftsmanship and long-term growth opportunities for the workforce engaged in the tile and stone industry.As part of the initiative, Kerakoll has in..

Infrastructure Energy

13 May 2026

Allu Cinemas Installs 727 kW Solar System with Freyr

Allu Cinemas, Kokapet, has partnered with Freyr Energy to commission a 727 kW rooftop solar power system at its cinema facility in Hyderabad with an investment of Rs 22.76 million.The installation is expected to meet nearly 60 per cent of the cinema’s energy requirements, making it one of the largest solar deployments for a cinema complex in the region.According to the companies, the project is expected to reduce annual electricity expenses from around Rs 5.2 million to nearly Rs 0.5 million, generating estimated yearly savings of Rs 7.7–8 million.The solar installation is also projected t..

Technology

13 May 2026

Kaizen AI Discusses Real Estate AI Adoption Across Projects

Real estate developers, architects and technology firms discussed the growing implementation of artificial intelligence across active projects in India, Dubai and the United States during a media interaction held in Mumbai this week.The discussion focused on how AI-driven systems are increasingly being used in live real estate projects to evaluate planning, parking, efficiency, cost and constructability at a scale beyond conventional workflows.Kaizen AI, which has worked on more than 200 projects globally, showcased how AI-led optimisation systems are being integrated into developments across ..