apollo distilleries: PNB to sell NPA account Apollo Distilleries & Breweries
However, PNB said it will be at its sole discretion to withdraw the account offered for transfer, without assigning any reasons.
The last date of submission of expression of interest is August 31, 2022 while the due diligence is to be completed by September 7, said the lender.
The tentative date of e-bidding, to happen on a 100 per cent cash basis, is September 12.
A subsidiary of Chennai-based Empee Distilleries Ltd (EDL), Apollo Distilleries and Breweries (ADPL) owns and operates a distillery plant with an installed capacity of 50,000 kilo litre per annum in Tamil Nadu.
EDL is in the resolution process under Insolvency and Bankruptcy Code (IBC). The NCLT Chennai bench on January 20, 2020 approved the resolution plan submitted by one of the resolution applicants.