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Judgment
ORDER
This application has been moved for the extension of liquidation period by one year, w.e.f., 15.12.2023 to 15.12.2024. Keeping in view the submissions made in the application, the liquidation period is extended by 6 months w.e.f., 15.12.2023. Accordingly, this application is allowed and disposed of.
This application has been moved for extension of Liquidation period by one year w.e.f., 15.06.2024. Keeping in view the submissions made in the application, the Liquidation period is extended by 6 months w.e.f., 15.06.2024. Accordingly, this application is allowed and disposed of.
The CD is a Natural Gas-Based Power Plant and it cannot be sold because of non-availability of Gas. The Applicant has issued auction notices for 11 times and every time e-auction has failed. The applicant has given details of every fact in the application including that one of the options to sell the property is by way of Anchor Bid followed by a Challenge round through e-auction process. The steps to be taken are delineated in Paragraph “xxv” of the application, which have been reiterated in the prayer clause. There is also Resolution by the SCC in its 18th meeting held on 05.02.2024 to take the said process. Keeping in the view the facts and circumstances, we are of the opinion that the property of the CD can be sold also through Anchor Bid followed by a Challenge round through e-auction process. Accordingly, the application is allowed.