Ready to pay for Adhunik Metaliks bid, Liberty House tells NCLT

The Liberty House counsel brought to the attention of the NCLT that the MSTC issues were pending, which would have a material bearing on the present matter

Liberty House counsel on Thursday made representations before the Kolkata Bench of the National Company Law Tribunal (NCLT) that it was ready with funds to close the transaction with creditors of Adhunik Metaliks.

The counsel, however, did not mention the amount. Earlier, Liberty House had offered to pay in tranches, Rs 100 crore within 14 days from December 12, and the balance Rs 310 crore by January 15, which is the longstop date, as defined in the resolution plan. 

However, the committee of creditors (CoC) had rejected the payment in instalments verbally at the tribunal. The CoC has already filed an application