The case involves an application filed under section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the National Company Law Tribunal Rules, 2016, concerning Ess Dee Aluminium Limited (in liquidation). The applicant sought direction from the Respondent/Liquidator to participate in an e-auction of Ess Dee Aluminum Limited. The auction was scheduled for August 26, 2022. However, the auction had already taken place, and the bid of Rs. 103.4 Crores was accepted by the Liquidator.
Ess Dee Aluminium Limited is undergoing liquidation. An e-auction was scheduled, and the applicant initially intended to bid for Block-H. The last date for EMD submission was August 24, 2022, until 5:00 PM, and the e-auction was fixed for August 26, 2022, from 3:00 PM to 5:00 PM. The applicant submitted an additional Rs. One Crore in the liquidation account of the Corporate Debtor on August 24, 2022, at 8:30 PM and requested to switch from Block-H to Block A around 10:00 PM on the same day. The applicant stated he would provide the duly executed document by August 25, 2022, for bidding for Block-A. The auction was held on August 26, 2022, and Block-A was already sold to the highest bidder. There were 51 bidders who submitted their bids before 5:00 PM according to the
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The case involves an application filed under section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the National Company Law Tribunal Rules, 2016, concerning Ess Dee Aluminium Limited (in liquidation). The applicant sought direction from the Respondent/Liquidator to participate in an e-auction of Ess Dee Aluminum Limited. The auction was scheduled for August 26, 2022. However, the auction had already taken place, and the bid of Rs. 103.4 Crores was accepted by the Liquidator.
Ess Dee Aluminium Limited is undergoing liquidation. An e-auction was scheduled, and the applicant initially intended to bid for Block-H. The last date for EMD submission was August 24, 2022, until 5:00 PM, and the e-auction was fixed for August 26, 2022, from 3:00 PM to 5:00 PM. The applicant submitted an additional Rs. One Crore in the liquidation account of the Corporate Debtor on August 24, 2022, at 8:30 PM and requested to switch from Block-H to Block A around 10:00 PM on the same day. The applicant stated he would provide the duly executed document by August 25, 2022, for bidding for Block-A. The auction was held on August 26, 2022, and Block-A was already sold to the highest bidder. There were 51 bidders who submitted their bids before 5:00 PM according to the
…Notice inviti…
Last date for EMD…