Abhishek Nagori Liquidator of Asian Natural Resources India Ltd. Vs. Rajesh Kumar Agrawal - Adjudicating Authority permitted private sale of property, below liquidation value, as per the recommendations of SCC.

 NCLT Indore (11.03.2022) in Abhishek Nagori Liquidator of Asian Natural Resources India Ltd. Vs. Rajesh Kumar Agrawal [IA/7 (MP) 2022 in TP 161 of 2019 [CP(IB) 19 of 2017] Adjudicating Authority permitted private sale of property, below liquidation value, as per the recommendations of SCC;

Excerpts of the order;

This application is filed by the Liquidator under Section 60(5)(C) of the IBC, 2016. We heard the Learned Counsel for the Liquidator.

 

We perused the records. It is brought to our notice that the Liquidator is not getting buyer for the liquidation value of the assets of the Corporate Debtor.

 

However, the stakeholder’s consultation committee in their meeting dated 26.11.2021 directed the Liquidator to sell the one plot of the Corporate Debtor for sum of Rs. 9,25,000/-.

 

It appears from record that this price is more than valuation of the assets made as on now. Since the stakeholder committee have consented for this price, we have no objection, if Liquidator sells the plot of the land by way of private sale for this amount. The Liquidator to sell the same and file a report within two weeks.

 

With this direction, IA/7(MP)2022 stands allowed and disposed of.

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