Bharati Defence liquidator looks to sell company as going concern

The reserve price has been set at Rs 615 crore, according to Deloitte Touche Tohmatsu India

Topics
Bharati Defence | Deloitte

Abhijit Lele  |  Mumbai 

The liquidator of Bharati Defence and Infrastructure (BDIL) has sought bids for the company, which makes ships for defence services and offshore vessels, as a going concern. The National Company Law Tribunal (NCLT) had closed insolvency process related to the firm in January 2019.

A senior executive with a lender that has exposure to the sick entity said it was put in liquidation after a long legal battle. Lenders are trying to discern if there is any investor interest in buying the company as a going concern on a consolidated basis. Going concern is the principle that assumes an entity will ...

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First Published: Wed, February 24 2021. 06:10 IST
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