Liquidator invites expression of interest from prospective bidders for sale of IVRCL

The last date for submitting EOI would be December 10, 2021.

November 23, 2021 11:09 IST | India Infoline News Service
Expression of interest (EOI) has been invited for bidding for  IVRCL Limited under Liquidation as going concerned for third E-auction process. The last date for submitting EOI would be December 10, 2021. While the last date for the third e-auction is set on December 15, 2021. 

As per the advertisement by IVRCL's liquidator Sutanu Sinha, in the third e-auction, the qualified bidders who meet the Pre-Bid Qualifications and Eligibility Criteria can participate by bidding for at least the Reserve Price, i.e., Rs1200cr.

The advertisement further said that it may be noted that the entire Third E-auction Process is subject to the decision of Hon’ble National Company Law Tribunal in respect of application(s) which has been filed by the Liquidator for extension of time that is required for completion of liquidation of the Company.

Incorporated in 1987, IVRCL's operations are diversified across various infrastructure segments including Water & Environment, Irrigation, Transportation, Buildings & Industrial Structures, Power Distribution & Transmission, Operation & Maintenance and Mining spread across various geographical locations in India and overseas.

The Company is under Liquidation as a Going Concern with effect from 26 July 2019.

Sutanu Sinha, Liquidator, IVRCL Limited appointed by the Hon’ble NCLT, hereby invites Expression of Interest from prospective bidders for submission of bid in respect of sale of IVRCL Limited (“Company”) as a Going Concern under Insolvency and Bankruptcy Act.

IVRCL stock is suspended for trading on stock exchanges. 

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