The liquidator filed an IA seeking approval from the Adjudicating Authority for the sale of the liquidation estate of SKP Steel Industries Private Limited as a going concern through an e-auction. The applicant stated that they had successfully managed the e-auction. The primary relief sought was the approval of the sale of the liquidation estate on an 'AS IS, WHERE IS, WHATEVER THERE IS AND WITHOUT RECOURSE BASIS' as a going concern. The applicant also sought waivers and concessions as a consequence of the sale.
Darkwell Merchandise Private Limited is the Operational Creditor. SKP Steel Industries Private Limited is the Corporate Debtor, which is undergoing liquidation. Soumitra Lahiri is the Liquidator of SKP Steel Industries Private Limited and is seeking approval from the Adjudicating Authority for the sale of the liquidation estate of the Corporate Debtor as a going concern through an e-auction. The liquidator is seeking various waivers and concessions as part of the sale, including the transfer of the liquidation estate with a clean slate, the continuation of existing licenses and approvals, and the extinguishment of pre-liquidation claims. Balmukund Cement & Roofing Pvt. Ltd. is the successful purchaser. The Adjudicating Authority is considering the extent to which
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The order…
The liquidator filed an IA seeking approval from the Adjudicating Authority for the sale of the liquidation estate of SKP Steel Industries Private Limited as a going concern through an e-auction. The applicant stated that they had successfully managed the e-auction. The primary relief sought was the approval of the sale of the liquidation estate on an 'AS IS, WHERE IS, WHATEVER THERE IS AND WITHOUT RECOURSE BASIS' as a going concern. The applicant also sought waivers and concessions as a consequence of the sale.
Darkwell Merchandise Private Limited is the Operational Creditor. SKP Steel Industries Private Limited is the Corporate Debtor, which is undergoing liquidation. Soumitra Lahiri is the Liquidator of SKP Steel Industries Private Limited and is seeking approval from the Adjudicating Authority for the sale of the liquidation estate of the Corporate Debtor as a going concern through an e-auction. The liquidator is seeking various waivers and concessions as part of the sale, including the transfer of the liquidation estate with a clean slate, the continuation of existing licenses and approvals, and the extinguishment of pre-liquidation claims. Balmukund Cement & Roofing Pvt. Ltd. is the successful purchaser. The Adjudicating Authority is considering the extent to which
…The order…