SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

IVRCL informs about update on liquidation process and e-auction

25 Jun 2022 Evaluate

IVRCL has informed that as part of liquidation process of the IVRCL under the provisions of Insolvency and Bankruptcy Code, 2016 (IBC) read with Insolvency and Bankruptcy Board of India (Liquidation Process) Regulation, 2016 (Liquidation Regulations) made thereunder, Successful Bidder has been directed to pay balance sale consideration of Rs 1150 crores (as an amount of Rs 50 crores has already been paid as EMD) for sale of IVRCL under the Third E-Auction Process as per payment schedule provided in Order dated 15th June 2022 (received on 16th June 2022) passed by Hon’ble National Company Law Tribunal, Hyderabad Bench (NCLT). As per aforesaid order dated 15 June 2022 passed by Hon’ble NCLT (NCLT Order) payment of balance sale consideration of Rs 1150 crores by Successful Bidder is to be made within a period of 12 months from the date of the order, viz., June 15, 2022 in six tranches. Apart from aforesaid, various directions and clarifications have been provided in the said NCLT Order including direction to adhere to timelines; direction for payment of interest in case there is any delay on part of successful bidder to make payment in time, viz., at 12% p.a. for such delayed period etc.; clarification that successful bidder, if willing and desires, can make payment before the payment timelines provided in the said NCLT Order. Further, as per NCLT Order, last date for concluding the liquidation of the IVRCL/ Corporate Debtor, as a going concern, has been extended until June 14, 2023.

The above information is a part of company’s filings submitted to BSE.

Peers
Company Name CMP
Larsen & Toubro 4117.35
Rail Vikas Nigam 293.65
NCC 160.50
KEC International 569.25
Kalpataru Projects 1205.50
View more..

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×