IVRCL liquidator extends deadline for expression of interest, e-auction

V Rishi Kumar Hyderabad | Updated on October 17, 2019

The corporate headquarters of IVRCL in Hyderabad   -  P_V_SIVAKUMAR

The liquidator of IVRCL Ltd has announced that the last date for submission of expression of interest for sale of IVRCL, as a going concern, has been extended to October 22.

The date of e-auction has also been extended to October 23, while all other terms announced earlier for sale remain the same.

In a regulatory filing, Sutanu Sinha, Liquidator of IVRCL, appointed by the National Company Law Tribunal, Hyderabad, has informed about the extension of the date for both expression of interest and electronic auction of the Hyderabad-based infrastructure company.

During the course of the insolvency proceedings taken up under the Insolvency and Bankruptcy Code, 2016, there was no suitable suitor for the company as the Committee of Creditors rejected the resolution plan filed in the NCLT.

Earlier, the deadline for submission of Expression of Interest under liquidation process was extended to October 14.

Trading in the company shares has been suspended due to ‘procedural reasons’.

Published on October 17, 2019

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