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The NCLT order said "The liquidator shall try to dispose off the corporate debtor company as a going concern after publication of notice in newspaper with the reserve price which shall be equal to the total debt amount including interest and maximum period applicable for trying the sale of the corporate debtor as a going concern will be three months from the date of the order."
The liquidation order was issueD last night by the bench.
Sumit Binani, the resolution professional (RP) of the company, is appointed as the liquidator.
The company owed lenders around Rs 4,600 crore, and reported a loss of Rs 676 crore on a revenue of Rs 541 crore in 2016-17.