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A consortium of banks led by State Bank of India failed to get a ‘satisfactory’ bid to sell the assets of KS Oils Ltd. In a notice to the BSE, KS Oils said the lenders have now decided to conduct a second round of bidding on February 24.
The consortium had wanted to sell the whole or part of the edible oil assets of the company, comprising various branded products and manufacturing plants located at Morena, Ratlam and Guna in Madhya Pradesh, Kota in Rajasthan and a port-based refinery in Haldia, West Bengal (with all rights, title and interests in equipment, land, buildings, movable assets, including certain intangible assets).
The sale was planned under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI).
KS Oils said the sale of its wind turbine generators and associated facilities in TN, Rajasthan and MP had, however, been successfully completed.
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