Core Insights - Syska LED, once a prominent player in the LED production industry, is currently undergoing an insolvency resolution process, attracting interest from four bidders, including its promoter and a Germany-based investor [1][6][7] - The company has admitted claims amounting to approximately ₹226 crore, with the largest lender being State Bank of India, holding an exposure of about ₹77 crore [2][6] - Concerns have been raised by lenders regarding the validity of some bids due to the lack of formal board authorization from one of the bidders, which could potentially disqualify that bid if not resolved [2][5] Financial Situation - Syska LED has acknowledged claims totaling around ₹226 crore, with expectations from lenders that recoveries could exceed 50% of these admitted claims, pending final negotiations and creditor committee approval [2][5] - The company has faced financial difficulties attributed to intense competition, margin pressures, and constraints in working capital [6] Resolution Process - The insolvency resolution process commenced in October 2024 and is currently in an advanced stage, with a second round of bids underway [6][7] - The resolution professional is anticipated to present compliant plans to lenders after addressing documentation issues, with the process expected to conclude in the coming months [6][7]