According to the papers, the total trading debt on account of sale of fabric (Trading Transactions) to various traders of Alok (numbering approximately 5,293) (Trading Debtors) as at June 2017 amounted to about Rs 11,622 Crores.Steps taken by the resolution professional (RP) for Alok Industries to recover trade outstandings to the tune of Rs 11,622 crore from 5,293 debtors of the textile company remained unsuccessful as 2,467 of them could not be traced, documents perused by FE show.
Debtors were not locatable at the addresses that were provided by Alok, the documents, understood to have been made available to the committee of creditors (CoC) ahead of a meeting scheduled for April 13 under the Insolvency and Bankruptcy Co…
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