9911796707
TMI Blog2022 (4) TMI 9X X X X Extracts X X X X X X X X Extracts X X X X ..... ractor and has been executing projects in many states of India. The Corporate Debtor was brought under Liquidation vide order 21.08.2018. The amount realised is based on the sale of the property of the corporate debtor, which has been distributed to the stakeholders. Few more assets of the Corporate Debtor are available at the project sites, which are required to be sold, as a going concern and value maximisation will be affected and beneficial to the stakeholders. These two projects required further time, resources and efforts and the liquidator. Therefore, it seems appropriate that it should be sold as a going concern, to that effect the stakeholders have already given their consent - application allowed. - (IB)-160(ND)/2017 - - - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uting projects in many states of India. The Corporate Debtor was brought under Liquidation vide order 21.08.2018. During the liquidation process certain projects were completed i.e. at para 7, which reads as below:- 7. That as on liquidation commencement date, the following projects were carried out for beneficial liquidation of the CD: i. North Bihar Power Distribution Company Limited - Katihar, Bihar (Rural Electrification Project) ii. North Bihar Power Distribution Company Limited - Sitamarhi, Bihar (Rural Electrification Project) iii. North Bihar Power Distribution Company Limited -Bhagalpur, Bihar (Rural Electrification Project) iv. South Bihar Power Distribution Company Limited - BRGF Gay a, Bihar (Rural Elect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ees thirty-three crore seventy-two lakh only) in accordance with Regulation 33(1) of IBBI (Liquidation Process) Regulations, 2016. Proceeds to the extent of full liquidation claim of ₹ 29.08 crore by PNB (exclusive charge holder on this property) were paid to PNB and spillover was distributed to all 5 financial creditors including PNB as one of the five banks. 11. That CD's factory is located at Thirumalayampalayam, Palakkad Main Road, K.G. Chavadi, Coimbatore, Tamil Nadu) has been sold by E-auction to M/s. Jum Jum Traders on October 20, 2020, for ₹ 7,81,08,000/- (Rupees seven crore eighty-one lakh eight thousand only) in accordance with Regulation 33(1) of IBBI (Liquidation Process) Regulations, 2016. 4. The amoun ..... X X X X Extracts X X X X X X X X Extracts X X X X
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