Four entities, including the promoter and Germany's Mutares Group, have submitted bids for the insolvency resolution of Syska LED Lights, which has admitted claims totaling approximately ₹226 crore. Lenders, led by State Bank of India, are reviewing the bids but have raised concerns about the validity of one submission due to a lack of formal board authorization. The resolution process is advanced, with lenders anticipating recoveries potentially exceeding 50% of admitted claims.