Mumbai-based supply chain and logistics company Arshiya Limited is undergoing the insolvency process due to a debt of Rs 6,647 crore. Ironically, several major business houses are interested in acquiring the company, including Gautam Adani’s Adani Ports and Special Economic Zone, JSW Infrastructure, Horizon Industrial Parks, and Trans India Real Limited. In addition, investment firms such as Authum Investment and Infrastructure Limited, Dickey Alternative Investment Trust, and Finquest Financial Solutions Private Limited are also in the race.
Arshiya Limited has acknowledged a debt of Rs 6,647 crore, of which Rs 3,082 crore is owed to secured financial lenders, while Rs 3,554 crore is owed to non-secured financial lenders. The company provides integrated supply chain and logistics infrastructure solutions. According to its website, Arshiya is a leading free zone developer, operating two free trade warehousing zones, and is the nation’s largest container train operator.
The company’s resolution professional, Pankaj Mahajan, declined to provide further details, citing the ongoing corporate insolvency resolution process. According to a source, Arshia’s strategic assets are one of the reasons why several major business houses are interested in acquiring the company.
These assets include a container yard with a capacity of 6,000 containers and seven godowns. The insolvency process began last year following an application by Punjab National Bank.
