Acquisitions26 Mar 2026, 04:28 pm
Euro Ceramics Ltd: Jaquar And Company Pvt Ltd Declared as Successful Bidder in Euro Ceramics Ltd Acquisition
AI Summary
Pursuant to NCLT Order No. IA(IBC)/2832(MB)2025IA(IBC)/INC.P.(IB)/66(MB)201 dated 13th August 2025, the Board in their meeting held on Today, 26th March 2026 has allotted 70 LAKHS equity shares to Jaquar And Company Pvt Ltd, the successful bidder in the e-Auction Process conducted by the Liquidator for acquisition of Euro Ceramics Ltd as a going concern during Liquidation Process. The sale of the Corporate Debtor as a going concern, is akin to a 'resolution plan', and for the purposes of due implementation certain reliefs, concessions, directions and exemptions are required to be granted by this Tribunal in favour of the Applicant/Corporate Debtor.
Key Highlights
- Jaquar And Company Pvt Ltd declared as the Successful Bidder in the e-Auction Process conducted by the Liquidator for acquisition of Euro Ceramics Ltd.
- The sale of the Corporate Debtor as a going concern is akin to a 'resolution plan', requiring certain reliefs, concessions, directions and exemptions for due implementation.
- The sale includes all assets of the Corporate Debtor, excluding avoidance transactions and bank account.
- The Applicant has paid the full bid amount of Rs. 42,90,00,000/= to the Liquidator.
- The sale cannot be equated at par with the Sale of Corporate Debtor under Scheme of Arrangement or under a Resolution Plan.