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NATIONAL COMPANY LAW TRIBUNAL
SHRI. VINAY GOEL, SMT. MADHU SINHA, JJ
Jasin Jose VS
| Table of Content |
|---|
| 1. initiation and purpose of the liquidation process. (Para 1 , 2 , 3) |
| 2. details regarding asset condition and valuation. (Para 4 , 5 , 6 , 7 , 8) |
| 3. requests concerning extension and statements from stakeholders. (Para 9 , 10 , 11) |
| 4. mandatory provisions concerning sale consideration. (Para 12 , 13) |
| 5. terms in auction processes and consequences of non-compliance. (Para 14 , 15) |
| 6. legal implications of non-payment within stipulated time. (Para 16 , 17 , 18 , 19) |
| 7. specific financial details concerning bidder obligations. (Para 20 , 21) |
| 8. assessment of request for extension of time. (Para 22 , 23 , 24) |
| 9. final ruling and implications on emd and compliance. (Para 25 , 26 , 27) |
ORDER
Per Coram
1. The present application has been filed by CA Jasin Jose, the Liquidator of M/s AP Steel Re-Rolling Mill Ltd. (hereinafter referred to as the ’Corporate Debtor’) under Section 60 (5) of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as ’the Code’), with the following prayer:
a. This Hon’ble Tribunal may be pleased to grant additional time until 31/07/2025 to the successful bidder to make the balance sale consideration.
b. For such other and further directions as t
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