Authum Investment & Infrastructure Ltd emerges successful resolution applicant for Carnival Techno Park Pvt Ltd

Authum Investment & Infrastructure Limited has emerged as the Selected Resolution Applicant and/or Successful Resolution Applicant, in relation to acquisition of Carnival Techno Park Private Limited ('CTPPL'), pursuant to the Resolution Plan submitted by the Company. In this connection, the Resolution Professional has issued a letter of intent (LOI') dated March 18, 2025 in favour of the Company and the same has been accepted by the Company today.

The LOI is subject to the outcome of the decision of the Hon'ble National Company Law Tribunal, Mumbai Bench (Adjudicating Authority) and / or any other Courts or Tribunal (as the case may be) under Applicable Laws, and the terms and conditions as stated in the said LOI.

Carnival Techno Park Private Limited (Corporate Debtor or Company) was incorporated under the provisions of the Companies Act, 1956 on March 18, 1996. It is currently undergoing a Corporate Insolvency Resolution Process (CIRP) which had commenced vide order dated February 13, 2024 of the Hon'ble National Company Law Tribunal, Mumbai Bench.

Carnival Techno Park Private Limited ("CTPPL") is in the business of construction and leasing of an IT Park in Thiruvananthapuram, Kerala. CTPPL is currently undergoing Corporate Insolvency Resolution Process ("CIRP"), which had commenced vide order dated February 13, 2024 of the Hon'ble National Company Law Tribunal, Mumbai Bench. As per the latest financial available as on March 31, 2023 prior to initiation of CIRP, the turnover of CTPPL was Rs. 19.57 crore.

Total Resolution Plan value of approximately Rs. 115 crore, including Rs. 25 crore upfront on the Implementation Date, and the balance payable in a structured manner to the Creditors.

Source : Equity Bulls

Keywords

AuthumInvestmentandInfrastructure SuccessfulResolutionApplicant Acquisition CarnivalTechnoPark