Ferro Alloys may end up in liquidation; NCLT to pass judgment on July 12

Ferro Alloys has four mines - two are operational, one is closed and another one has applied for renewal of lease

After months of deliberations on resolution plans and various cases in the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT), Ferro Alloys Corp of India may finally end up being liquidated.

The Committee of Creditors (CoC) rejected all resolution plans, even after the Kolkata Bench of the tribunal gave it time beyond the stipulated 270 days.

According to sources, the liquidation value of Ferro Alloys is around Rs 3.5 billion. It has a 100 megwatt (MW) power plant that can be sold at Rs 4 billion, increasing the total liquidity value to Rs 7.5 billion.