In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Salasar Techno Engineering has informed that the Company has emerged as the highest bidder in the acquisition of EMC (under Liquidation) through an EAuction facilitated by the Liquidator, as appointed by the Hon’ble National Company Law Tribunal (NCLT), Kolkata Bench, pursuant to Order IA No. 842/KB/2023. The auction took place on Thursday, March 14, 2024, from 03:00 pm to 05:00 pm, with the highest bid amounting to Rs 178,00,00,000. 'SALASAR' has been officially announced as the successful bidder and Letter of Intent has been issued by the Liquidator. This letter outlines the terms and conditions necessary to finalize the sale of the company as a going concern, including the balance sale payment by Successful Bidder as per the provisions of the Insolvency and Bankruptcy Code and the Liquidation Process Regulations. The details required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 are annexed as Annexure-A.
The above information is a part of company’s filings submitted to BSE.
