EoI for ARS Energy invited; Nov 8 is last date for submission of resolution plans

ARS Energy Private Limited, the owner of a 60 MW thermal power plant in Gummidipundi, has been admitted into the Corporate Insolvency Resolution Process (CIRP). The resolution professional, Ramanathan Bhuvaneshwari, has called for expressions of interest (EoI) from potential buyers, highlighting the company’s primary asset: a significant parcel of freehold land.

According to the public invitation (Form G), the corporate debtor’s power plant has been non-operational since March 2022. The primary attraction for investors is likely the substantial real estate associated with the company. The plant itself is situated on approximately 63 acres of freehold land near Chennai. Additionally, the company owns another 15 acres of freehold land in Kamambakkam, Tamil Nadu, presenting a significant opportunity for asset acquisition or redevelopment.

The resolution process follows a strict timeline set by the Insolvency and Bankruptcy Board of India (IBBI). Interested parties have until October 3, 2025, to submit their initial EoIs. The entire process is scheduled to move quickly, with a final deadline for resolution plans set for November 8, 2025.

The company currently has a minimal workforce of 8 employees. Prospective resolution applicants must meet the eligibility criteria under Section 29A of the Insolvency and Bankruptcy Code, 2016, which bars defaulting promoters and other specified persons from participating.

This insolvency process offers a chance for energy companies, infrastructure developers, or real estate firms to acquire a large, strategic land asset with existing industrial infrastructure, albeit with a non-operational power plant.

Key Details for Potential Bidders:

• Asset: 60 MW Thermal Power Plant on 63 acres of freehold land in Gummidipundi, Chennai.
• Additional Asset: ~15 acres of freehold land in Kamambakkam, Tamil Nadu.
• Status: Plant has been shut down since March 2022.
• EOI Deadline: October 3, 2025.
• Resolution Plan Deadline: November 8, 2025.
• Contact: For further details, including creditor lists and eligibility, interested parties must email cirp.arsenergy@gmail.com and in_arsenergy@pwc.com.

ARS Energy Private Limited (formerly known as ARS Metals Private Ltd) is the power division of the ARS Group which was promoted by Mr. Ashwani Kumar Bhatia in the year 1990. Mr. Bhatia has more than three decades of experience in steel industry. Later, in October 2013, the promoter decided to use his experience to diversify the business into two divisions i.e. Steel & Power and set up a 60-MW thermal power plant in the same year. This led to demerger of its steel division and name of the company ARS Metals Private Ltd was changed to ARS Energy Private Limited (AEPL). 
Acuite believes that the company will benefit from the experience of the management along the company’s established track record of operations.

The insolvency process against ARS Energy was started by Canara Bank in February 2025 for defaulting on a payment of Rs 110.57 crore.

Also See: Gensol Engineering invites EoIs; deadline for submission of resolution plans is Nov 29