Adani Ports among 3 firms interested in reviving Nagarjuna Oil Corporation
Adani Ports and Special Economic Zone Ltd, Haldia Petrochemicals Ltd and, Accord Distilleries and Breweries Pvt Ltd have shown interest in reviving Nagarjuna Oil Corporation Ltd (NOCL) which is setting up a 6 million metric tonnes per annum (MMTPA) petroleum and oil refinery project in Cuddalore, Tamil Nadu. The company has been under liquidation.
NOCL has revealed that the three prospective bidders have submitted their Expressions of Interest (EoIs) for their scheme for revival under Section 230 of the Companies Act, 2013.
The EoIs are under scrutiny and verification, and the liquidator would share the Asset Memorandum or the Valuation Report with the bidders, based on which they can file a scheme through the liquidator.
