The case involves an application filed by the Liquidator of M/s Vishwa Infrastructures and Services Private Limited, appointed in an earlier order by the Tribunal. The Liquidator sought permission to sell the Corporate Debtor as a going concern, following an earlier order that allowed such a sale. The application was filed under Section 60(5)(c) of the Insolvency and Bankruptcy Code, 2016, along with relevant regulations concerning liquidation processes.
M/s Vishwa Infrastructures and Services Private Limited underwent liquidation, and Shri Hemant Sharma was appointed as the Liquidator. The Liquidator sought permission from the NCLT to sell the Corporate Debtor as a going concern. An earlier order (IA 995/2020) had permitted this sale. The Liquidator conducted multiple e-auction processes. The reserve price was initially fixed at Rs. 76 crores, with an EMD of Rs. 3.8 crores. M/s Indus Projects Private Limited along with Indvis Holdings Private Limited (Special Purpose Vehicle) emerged as the successful bidder with a bid of Rs. 57 crores. The successful bidder requested certain reliefs and concessions, which were deliberated upon in meetings with the lenders. ICICI Bank and YES Bank raised objections to some of the
…Sign in to view the parties.
Tribunal passed an order in IA 995/2020…
Third meeting of lenders held, Reserve Price…
The case involves an application filed by the Liquidator of M/s Vishwa Infrastructures and Services Private Limited, appointed in an earlier order by the Tribunal. The Liquidator sought permission to sell the Corporate Debtor as a going concern, following an earlier order that allowed such a sale. The application was filed under Section 60(5)(c) of the Insolvency and Bankruptcy Code, 2016, along with relevant regulations concerning liquidation processes.
M/s Vishwa Infrastructures and Services Private Limited underwent liquidation, and Shri Hemant Sharma was appointed as the Liquidator. The Liquidator sought permission from the NCLT to sell the Corporate Debtor as a going concern. An earlier order (IA 995/2020) had permitted this sale. The Liquidator conducted multiple e-auction processes. The reserve price was initially fixed at Rs. 76 crores, with an EMD of Rs. 3.8 crores. M/s Indus Projects Private Limited along with Indvis Holdings Private Limited (Special Purpose Vehicle) emerged as the successful bidder with a bid of Rs. 57 crores. The successful bidder requested certain reliefs and concessions, which were deliberated upon in meetings with the lenders. ICICI Bank and YES Bank raised objections to some of the
…Tribunal passed an order in IA 995/2020…
Third meeting of lenders held, Reserve Price…