kwality limited - Updates

27 Jan 2022 , 12:00 AM

kwality limited has informed the Exchange regarding In furtherance to our earlier communique dated January 19, 2022, whereby it was intimated, inter alia, that as per the order dated December 21, 2021 passed by Hon ble Adjudicating Authority, National Company Law Tribunal, New Delhi Bench-III (NCLT) in I.A. No. 5208 of 202 filed by the successful bidder viz. Sarda Mines Private Limited (SMPL), SMPL has deposited full consideration of INR 121 Crores together with interest (after deducting TDS) (where such interest portion is sub-judice and is subject to the outcome of the directions of the Hon ble NCLT in I.A. No. 5208 of 2021) for sale of Kwality Limited (In Liquidation) as a going concern under the provisions of the Insolvency & Bankruptcy Code, 2016 (IBC) and the Insolvency & Bankruptcy Board of India (Liquidation Process) Regulations, 2016 (Liquidation Regulations) framed thereunder.