Falcon Tyres, previously owned by Ruia Group, may end up liquidated after failing to attract any bidders for takeover of the stressed assets. The company is currently undergoing insolvency resolution process in the Bengaluru Bench of the National Company Law Tribunal (NCLT).
In case of liquidation, lenders are seen taking at least a 52 per cent haircut with an estimated liquidation value of around Rs 797 crore against verified claims of Rs 1,513 crore. Sources said the asset value at the company cannot be more than Rs 105 crore as depreciation of plant and machinery has practically rendered …
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