Sitamarhi: The E-auction for Riga Sugar Mill is scheduled to take place on September 2, 2024; this time, with the reserve price slashed to ₹86.50 crore. A public notice in this regard was issued by Neeraj Jain, Liquidator, Riga Sugar Company Limited.
As per notice, E-auction will take place on Monday, September 2, 2024 from 12.00 p.m. to 6.00 p.m. with unlimited extension of 10 minutes, i.e. the end time of the e-auction will be extended by 10 minutes each time if bid is made within the last 10 minutes before the closure of
the auction.
Interested bidders asked to submit EOI documents, along with KYC
document, confidentiality undertakings and proof of funds demonstrating their
eligibility to participate in the auction process latest by August 16, 2024 (latest
by 5:00 pm) along with a non-interest bearing deposit of Rs 0.50 crore.
On the basis of documents as submitted, the liquidator will identify
Qualified Bidders. Only Qualified Bidders shall submit Bid Forms, non-interest
bearing EMD of Rs 4.50 crore, and other applicable undertakings declarations
as required under E Auction Process Document latest by August 31, 2024.
In case of unsuccessful bid participants, the said deposit of Rs. 0.50 crore and Rs
4.50 crore will be refunded latest within 30 days of completion of E Auction
date.
