Nine bidders submit resolution plans for distressed software firm Rolta India

Lenders to debt-laden IT services company Rolta India have received nine resolution plans under the ongoing insolvency process to settle more than Rs 14,000 crore in unpaid dues. The plans have come from Rashmi Metaliks, United Biotech, Real Value Infotech Projects, Cyfuture India, Square Four Housing & Infrastructure Development, Ashdan Properties, Quant Efficient, and Yash Shares.

Why it’s important: Creditors may not get a good value for the firm’s software assets but hope to see interest in its real estate properties across India. The bankruptcy market in India is gaining depth in India. Moneycontrol