CoC, RP faced with grey areas in IBC as bidders hold-up plan implementation

At least seven resolutions at stake as bidders raise issues

At least seven companies under the Insolvency and Bankruptcy Code (IBC) are staring at a situation where preferred bidders have raised issues or are reluctant to implement the resolution plan, threatening the resolution of these cases.

Three out of four companies - Castex Technologies, ARGL, and Metalyst Forgings - are subsidiaries of Amtek Auto. Amtek Auto, Castex and ARGL were won by Liberty House Group, Metalyst by Deccan Value Investors. Both Liberty House and Deccan Value have not paid the creditors and raised valuation issues at the National Company Law Tribunal (NCLT). The same reason has been cited by Liberty