Maharashtra Seamless again shows interest to buy Adhunik Metaliks

According to Liberty, the outcome of the MSTC would have a material impact on the case being heard in the NCLT

As Liberty House is dragging its feet in paying for Adhunik Metaliks, Maharashtra Seamless, the second-highest bidder, has written to the Committee of Creditors (CoC), renewing its interest in the company.

The counsel representing the CoC for Adhunik read out a letter from Maharashtra Seamless, which said that it had cash reserves of Rs 500 crore and was a zero-debt firm. Maharashtra Seamless’s written offer for Adhunik was more than Rs 400 crore. Liberty’s offer for Adhunik was Rs 410 crore. 

The CoC counsel prayed before the National Company Law Tribunal (NCLT) Kolkata Bench that the resolution professional be allowed to continue