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Road to insolvency: Ferro Alloys Corporation may head towards liquidation

The first bid was opened in November 2017, the second on March 1, the third on March 12 and the fourth on March 17

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Ferro Alloys Corporation

Avishek Rakshit  |  Kolkata 



The resolution professional for (Facor) is likely to submit the plan to the National Company Law Tribunal (NCLT) for approval on April 2. This is the same day when the 270-day period, stipulated under the Insolvency and Bankruptcy Code (IBC), will expire. However, its committee of creditors (CoC) has still not been able to select a H1 bidder. If the resolution plan cannot be submitted by April 2, the company may face liquidation.

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First Published: Fri, March 30 2018. 06:00 IST

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