MUMBAI : Liberty House and Deccan Value have bid for bankrupt Castex Technologies, a subsidiary of Amtek Auto, with both offering about 20 per cent of overdues, said two senior bank officials who did not want to be identified.
We have received two binding bids and both the offers are in the range of Rs 1,400 crore to Rs 1,500 crore, said a senior person who did not wish to be named. By the end of this month, the resolution professional will decide the eligibility of the two candidates and advise lenders which offer is better for them, he said.
If the offer is accepted by the lenders, it will mean that they will have to forgo 80 per cent of the loan amount. Lenders will negotiate for a higher price, said the bankers. Castex Technologies…
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