The insolvency professional, appointed by the National Company Law Tribunal (NCLT), has called for expression of interest for submission of resolution plans for Inasra Technologies Private Ltd, which runs the hotel and home stay aggregator business under the brand Stayzilla.
The applicants should have a net worth of 50 crore or more as of March 31, 2018 and the ability to infuse minimum of 20 crore cash in the company, according to the notice inviting for expression of interest.
Under the insolvency proceedings, a 270 day timeframe is given for finding resolution plan for the company. As per the NCLT order, the resolution period for Inasra ends on July 30, 2018.
If no resolution plan is arrived at, the company goes into liquidation post t…