Not a single bid was received for Alok Industries under NCLT proceedings as the deadline ended on March 9.
Alok Industries is one of the largest cases that is currently undergoing insolvency proceedings in NCLT.
This may have the creditors concerned as they seem to be running short of time. The company has claims of over Rs 29,000 crore from the creditors.
Banks, however, may have to opt for another round of bidding before the 270 day resolution deadline.
Watch accompanying video of CNBC-TV18’s Ritu Singh for more details.