The application was filed by KALS Distilleries Private Limited under Section 60(5) of the Insolvency & Bankruptcy Code, 2016, seeking approval for the sale of the Corporate Debtor (Terra Energy Limited) as a going concern after emerging as the highest bidder in an e-auction.
KALS Distilleries Private Limited filed an application under Section 60(5) of the Insolvency & Bankruptcy Code, 2016.
The application pertains to the liquidation process of M/s. Terra Energy Limited.
The liquidation of the Corporate Debtor was ordered on 17.02.2022.
An e-auction for the sale of the Corporate Debtor as a going concern was conducted on 03.08.2022.
KALS Distilleries Private Limited emerged as the highest bidder for Rs.23.05 Crores.
The Liquidator confirmed the payment of the entire sum vide his email dated 01.11.2022.
The applicant sought certain reliefs, concessions, and approvals for taking over the Corporate Debtor on a clean slate basis.
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The Liquidation of the…
The e-auction for sale…
The application was filed by KALS Distilleries Private Limited under Section 60(5) of the Insolvency & Bankruptcy Code, 2016, seeking approval for the sale of the Corporate Debtor (Terra Energy Limited) as a going concern after emerging as the highest bidder in an e-auction.
KALS Distilleries Private Limited filed an application under Section 60(5) of the Insolvency & Bankruptcy Code, 2016.
The application pertains to the liquidation process of M/s. Terra Energy Limited.
The liquidation of the Corporate Debtor was ordered on 17.02.2022.
An e-auction for the sale of the Corporate Debtor as a going concern was conducted on 03.08.2022.
KALS Distilleries Private Limited emerged as the highest bidder for Rs.23.05 Crores.
The Liquidator confirmed the payment of the entire sum vide his email dated 01.11.2022.
The applicant sought certain reliefs, concessions, and approvals for taking over the Corporate Debtor on a clean slate basis.
…The Liquidation of the…
The e-auction for sale…