FCC

Punj Lloyd fails to attract any bidder in second round of e-auction

2023-08-31

Engineering, procurement and construction company Punj Lloyd, which is facing liquidation, has again failed to attract any buyer in the second round of e-auctions conducted by its liquidator.

The second round of e-auction was conducted on the directions of the National Company Law Tribunal (NCLT) at a reserved price of Rs 1,061 crore on a going concern basis, according to a regulatory filing by the company secretary. The second round of e-auction was conducted on the directions of the National Company Law Tribunal (NCLT) at a reserved price of Rs 1,061 crore on a going concern basis, according to a regulatory filing by the company secretary.

In July, Punj Lloyd had failed to get any buyer in the first round of e-auctions conducted by its liquidator.