The liquidator of Grids Steel & Alloys Ltd, an Odisha steel company under liquidation, has invited bids for its plant in Cuttack district as a slump sale. The reserve price is ₹32.56 crore, according to a sale notice published on Wednesday.
Liquidator Suresh Chandra Pattanayak, appointed by the Cuttack bench of the National Company Law Tribunal, will sell the company’s land, building and plant and machinery together. The factory is at Kapursing, in the Athagarh sub-division of Cuttack district. The sale falls under Regulation 32(b) of the IBBI (Liquidation Process) Regulations, 2016, which covers selling the assets in a slump sale. It will be conducted on an “as is where is, as is what is, whatever there is and no…