Sale29 Dec 2024, 01:00 am
Riga Sugar Co. Ltd. Completes Sale of Corporate Debtor as a Going Concern
AI Summary
Riga Sugar Co. Ltd., under insolvency proceedings since 2021, has completed the sale of its corporate debtor as a going concern to M/s Nirani Sugars Ltd Ltd. The sale was conducted through an e-auction on September 02, 2024, and the control was handed over to the successful bidder on 18th December, 2024. The liquidation process, overseen by the Liquidator Mr. Neeraj Jain, has now been concluded, with the liquidator no longer managing the company's affairs.
Key Highlights
- Riga Sugar Co. Ltd. completes sale of corporate debtor as a going concern.
- Sale conducted through an e-auction on September 02, 2024.
- Control handed over to the successful bidder, M/s Nirani Sugars Ltd Ltd, on 18th December, 2024.
- Liquidation process, under the Insolvency & Bankruptcy Code, 2016, has been concluded.
- Liquidator, Mr. Neeraj Jain, no longer managing the company's affairs.
Price Impact
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