The case involves an application (I.A. (IB) No. 1322/KB/2025) filed by the Liquidator of Sasa Musa Sugar Works Private Limited under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking exclusion of 61 days from the liquidation period.
The Liquidator of Sasa Musa Sugar Works Private Limited filed an application seeking exclusion of 61 days from the liquidation period.
The liquidation of the Corporate Debtor commenced on 20.02.2025 by order of the Adjudicating Authority.
The 2nd SCC Meeting (29.03.2025) resolved to attempt a going-concern sale with a reserve price of ₹125 crores.
An e-auction was conducted on 03.05.2025, which failed for want of bids.
The Hon'ble NCLAT permitted the suspended directors to place a Scheme of Compromise/Arrangement under Section 230 of the Companies Act, 2013.
The scheme was placed in the 4th SCC Meeting (26.05.2025) and subsequently rejected by the SCC in the 5th SCC Meeting (09.06.2025).
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Liquidation of the…
The 2nd SCC Meeting resolved to attempt a…
The case involves an application (I.A. (IB) No. 1322/KB/2025) filed by the Liquidator of Sasa Musa Sugar Works Private Limited under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking exclusion of 61 days from the liquidation period.
The Liquidator of Sasa Musa Sugar Works Private Limited filed an application seeking exclusion of 61 days from the liquidation period.
The liquidation of the Corporate Debtor commenced on 20.02.2025 by order of the Adjudicating Authority.
The 2nd SCC Meeting (29.03.2025) resolved to attempt a going-concern sale with a reserve price of ₹125 crores.
An e-auction was conducted on 03.05.2025, which failed for want of bids.
The Hon'ble NCLAT permitted the suspended directors to place a Scheme of Compromise/Arrangement under Section 230 of the Companies Act, 2013.
The scheme was placed in the 4th SCC Meeting (26.05.2025) and subsequently rejected by the SCC in the 5th SCC Meeting (09.06.2025).
…Liquidation of the…
The 2nd SCC Meeting resolved to attempt a…