In furtherance to our earlier communique dated January 19, 2022, whereby it was intimated, inter alia, that as per
the order dated December 21, 2021 by Hon'ble Adjudicating Authority, National Company Law Tribunal
(NCLT), the successful bidder viz. Sarda Mines Private Limited (SMPL) has deposited full consideration of INR
121 Crores together with interest (after deducting TDS) (where such interest portion is sub-judice and is subject
to the outcome of the directions of the Hon'ble NCLT in I.A. No. 5208 of 2021) for sale of Kwality Limited (In
Liquidation) as a going concern under the provisions of the Insolvency & Bankruptcy Code, 2016 (IBC) and the
Insolvency & Bankruptcy Board of India (Liquidation Process) Regulations, 2016 (Liquidation Regulations)
framed thereunder.
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