Kwality has informed that the Liquidator has successfully concluded the E-auction sale process of Kwality (In Liquidation) ('Corporate Debtor') as Going Concern under the provisions IBC on 24th September 2021. The Liquidator has declared the successful bidder and has issued to Letter of Intent dated 27th September 2021 ('LoI') in favour of the successful bidder for execution. The LoI has to be executed by the successful bidder latest by 6th October 2021. The entire sale consideration amount has to be deposited by the successful bidder within 30 (thirty) days from the date of the signed LoI.
The above information is a part of company’s filings submitted to BSE.
