RIGA SUGAR COMPANY LTD. - Corporate Insolvency Resolution Process (CIRP)-Liquidation - Corporate Insolvency Resolution Process (CIRP)

Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, this is to inform you that in relation to the E-Auction of M/s Riga Sugar Co. Ltd., the extended timeline for submission of EMD was May 27, 2024. However, the EMD as not received from any of the eligible bidders. As per the terms of the E-Auction Process document read with the provisions outlined in the Insolvency and Bankruptcy Code, 2016, the submission of entire EMD is mandatory for participants in the auction process. However, we have not received the requisite EMD within the specified timeframe, thereby resulting in cancellation of the E-Auction and declaration of the same as unsuccessful. Further updates regarding the auction process shall be made available on the website of the corporate debtor, i.e. www.rigasugar.com and also to your good office on a regular basis. Please take the above in record.