A mix of strategic and financial investors have submitted expressions of interest to buy out Kwality Limited (BSE:531882) which is facing insolvency proceedings, two officials aware of the developments said. The bidders include TPG Capital, L.P., Arcion Revitalization Private Ltd, India Resurgence Fund, L.P. (IndiaRF), Haldiram Snacks Pvt. Ltd. and Lvp Foods Pvt. Ltd. The bids have been submitted to Shailendra Ajmera of Ernst & Young LLP, who is the resolution professional for Kwality Dairy. The last date for the bids was March 31, 2019. “The resolution plan has to be submitted by May 15, 2019 and the total financial creditor claim submitted is INR 21 billion,” one official said. Ajmera could not be reached for comment. A spokesperson for IndiaRF said in response to an email query that the company does not comment on market speculation. Spokespersons for Arcion and TPG declined to comment. An email query sent to LVP Foods remained unanswered till press time. Haldiram Snacks could not be reached for comment.