Intimation of Public Announcement for 5th E-auction of Sale of Inventory in theOrdinary Course of Business.
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Compuage Infocom Limited, which is under the Corporate Insolvency Resolution Process (CIRP) since the NCLT order of April 29, 2024, is conducting its 5th e-auction to sell hardware inventory. The Resolution Professional, Mr. Gajesh Labhchand Jain, got this approved at the 16th Committee of Creditors meeting on April 30, 2025. The inventory, located at Bhiwandi, Maharashtra, has a reserve price of Rs. 18.88 crore, with an earnest money deposit of Rs. 1.88 crore and a bid increment of Rs. 10 lakh. The e-auction is scheduled for May 30, 2025, with bid submissions due by May 16, 2025. Stock from three suppliers (ADC India, Vertiv Energy, and Commscope India) is excluded as those items are sub-judice. The company is an IT distribution intermediary dealing in PC components, peripherals, and enterprise solutions.
This is the fifth attempt to liquidate company assets through e-auction under insolvency proceedings, indicating the company remains in deep financial distress with no resolution plan approved yet. Equity shareholders should expect little to no recovery as the company is being wound down asset by asset to repay creditors.