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IVRCL up for sale, liquidator invites EoI from bidders

IVRCL up for sale, liquidator invites EoI from bidders

Hyderabad: The liquidator of IVRCL Limited has invited expression of interest (EoI) from prospective bidders for sale of the city-based infrastructure company as a going concern and set Rs 1,654.47 crore as the reserve price, an official announcement has said.

"It is informed that the e-auction shall be scheduled on 4 October. The qualified bidders who meet the eligibility criteria can participate in the e-auction by bidding for at least the reserve price of Rs 1,654.47 crores subject to the terms of the e-auction process information document, the liquidator said in a notice on the company's website on September 5.

The company is under liquidation as a going concern following an order by the National Company Law Tribunal, Hyderabad nench. The NCLT had, on July 29, ordered liquidation of the company as there was no suitor for a resolution of the company.

PTI

PTI

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