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Supreme Tex Mart Ltd. Assets Up for Auction in Liquidation Process

Supreme Tex Mart Assets Head to Auction Block

Ludhiana & Kachh, Gujarat - August 14, 2024 - The assets of Supreme Tex Mart Limited are set to be auctioned off on September 11, 2024, as part of the company's ongoing liquidation process. The Insolvency and Bankruptcy Board of India (IBBI) issued the auction notice on August 10, 2024.

Assets on the Block

The auction will feature two lots:

  • Lot 1:
    • Receivables and financial assets of the company.
    • A labor colony situated opposite the spinning unit-1 of Supreme Tex Mart Limited in Kanganwal, Ludhiana. The property measures 4991 square yards and includes the building constructed on it.
    • Flat No. 402 on the 4th floor of Windsor Classic Apartment in Krishna Nagar, Ludhiana.
  • Lot 2:
    • Agricultural land bearing survey numbers 194/1/PAIKI-1, measuring 16997 square meters. This land is located in Village-Hatdi, Taluka-Mundra, District-Kachh, Gujarat.

Auction Details

  • Reserve Price: ₹49,000,000
  • EMD Amount: ₹4,900,000
  • Auction Platform: C1 India (P) Ltd
  • Web Address: https://www.bankeauctions.com
  • Last Date for EMD Submission: September 9, 2024

Key Information

  • Corporate Debtor: Supreme Tex Mart Limited
  • CIN/LLPIN: L17117PB1988PLC016933
  • Insolvency Commencement Date: September 29, 2017
  • Liquidation Commencement Date: November 1, 2019
  • IP Name: Mr. Ravinder Kumar Goel
  • IP Registration Number: IBBI/IPA-001/IP-P00705/2017-2018/11252

Conclusion

This auction presents an opportunity for interested parties to acquire valuable assets from Supreme Tex Mart Limited. Potential bidders are encouraged to conduct thorough due diligence and familiarize themselves with the terms and conditions of the auction.

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