Amtek Auto had received only two binding bids-Liberty House and Deccan Value.ABG Shipyard, on the other hand, received bid only from Liberty House. Senior officials said that Liberty House has cleared their dues with Exim Bank after the institution informed the RP of ABG Shipard, Sunderesh Bhat about their overdues from Liberty House. This could not be independently verified from Exim Bank. ABG Shipyard and Amtek Auto are among the list of 12 companies that the Reserve Bank of India had directed banks to refer to the bankruptcy court. ABG Shipyard is facing claims of Rs 18,245 crore while Amtek Auto is facings claims of Rs 12,722 crore from financial creditors.

Source: Economic Times April 23, 2018 04:52 UTC