Saasa Musa Sugar Works Private Limited, a company undergoing liquidation under the IBC, is set to be sold as a “going concern” through an e-auction at a reserve price of Rs 92.25 crore. The company, which operates a sugar mill in Bihar, was ordered into liquidation by the National Company Law Tribunal (NCLT), Kolkata Bench, on February 20, 2025.
The sale, approved during the 67th Stakeholders’ Committee of Creditors (SCC) meeting, will be conducted by Liquidator Mr. Manish Jain. The entire business, including its assets, will be sold on an “As is where is,” “As is what is,” “Whatever there is,” and “Without any recourse” basis. This approach, as per Regulation 32(e) of the IBBI Liquidation Regulation,…