Syska LED insolvency draws four bidders, including promoter and Mutares Group

Mumbai: The insolvency resolution process of Syska LED Lights has attracted interest from four parties-the company's promoter, Germany-based turnaround investor Mutares Group, Aikyam Stressed Asset Fund and Cyfuture India, people familiar with the matter said.

Lenders to Syska, once a leading name in LED production, have raised concerns over the validity of some of the bids due to the absence of formal board authorisation.